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Federal regulators allege in a lawsuit that three men illegally profited from Arch Coal’s acquisition of International Coal Group.
The U.S. Securities and Exchange Commission’s lawsuit says Frank Tamayo and two other men schemed to generate $5.6 million in profits from several mergers and acquisitions, including $135,052 from the coal companies’ merger. The men traded on nonpublic information gleaned from law firm Simpson Thacher & Bartlett.
One transaction involves Arch Coal’s acquisition of ICG in 2011. The complaint says nine days after ICG sent a draft merger agreement to the law firm, Tamayo purchased shares of the company’s stock. After Arch Coal announced the purchase, Tamayo sold shares, generating illegal profits.
The lawsuit was filed Friday in New Jersey, the same day Tamayo pleaded guilty to federal securities fraud charges.
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As temperatures rise and people start heading outside, the chance of contracting a tick-borne illness goes up. Cases of Lyme disease have seen a sharp rise in recent years, so reporter Chris Schulz recently spoke with Dr. Kane Maiers, associate medical director for UPMC GoHealth Urgent Care in West Virginia, to learn more.
Continue Reading Take Me to More NewsThe Office of Entrepreneurship was created this year by the West Virginia Legislature and aims to support existing businesses and guide startups through the earliest stages of launching a business.
Continue Reading Take Me to More NewsThe League of Women Voters of West Virginia has published its annual Legislative Scorecard on 20 bills that became law in the recently completed legislative session.
Continue Reading Take Me to More NewsThe Greenbank Observatory is offering a limited chance to go behind the scenes to check out its Search for Extra Terrestrial Intelligence (SETI). SETI tours are offered to small groups – ages 12 and up – several times a month through October. We caught up with the Observatory’s news manager to find out more about the tours – and what exactly scientists there are looking for.
Continue Reading Take Me to More News
