Deals
Two More Charged With Insider Trading Over IBM-SPSS Deal
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Two stockbrokers were charged with insider trading tied to International Business Machines Corp.’s $1.2 billion acquisition of software company SPSS Inc., in a probe that has already yielded three guilty pleas.
Daryl Payton, 38, and Benjamin Durant III, 37, pleaded not guilty to one count of conspiracy and five counts of securities fraud in an indictment unsealed in Manhattan federal court. The two men, arrested this morning in New York by the Federal Bureau of Investigation, were each released on $250,000 bond set by U.S. Magistrate Judge Michael Dolinger.