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US SEC charges former Foot Locker senior director with insider trading
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US SEC charges former Foot Locker senior director with insider trading
Sep 25, 2024 11:52 PM

NEW YORK, Sept 24 (Reuters) - The U.S. Securities and

Exchange Commission charged a former Foot Locker

executive on Tuesday with insider trading, saying he sold short

the retailer's stock prior to two earnings announcements in

2023.

In a complaint filed in Manhattan federal court, the SEC

said Barry Siegel, who had been a Foot Locker ( FL ) senior director of

order planning management, reaped more than $112,000 of profit

by trading on material nonpublic information that suggested Foot

Locker's ( FL ) results would disappoint investors.

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