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CHARLESTON, W.Va. (AP) -- 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 $135,052 from the coal companies' merger. The men traded on nonpublic information gleaned from law firm Simpson Thacher & Bartlett.
One transaction involves Arch Coal's acquisition of ICG in 2011. The complaint says nine days after ICG sent a draft merger agreement to the law firm, Tamayo purchased shares of the company's stock. After Arch Coal announced the purchase, Tamayo sold shares, generating illegal profits.
The lawsuit was filed Friday in New Jersey, the same day Tamayo pleaded guilty to federal securities fraud charges.
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Arch Coal Inc
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PRODUCER |
CODE : ACI |
ISIN : US0393801008 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Arch Coal is a coal producing company based in United states of america. Arch Coal holds various exploration projects in USA. Its main assets in production are WEST ELK, BLACK THUNDER and JACOB'S RANCH in USA and its main asset in development is SPRUCE N° 1 in USA. Arch Coal is listed in Germany and in United States of America. Its market capitalisation is US$ 677.8 millions as of today (€ 609.3 millions). Its stock quote reached its highest recent level on June 27, 2003 at US$ 99.96, and its lowest recent point on October 01, 2018 at US$ 0.01. Arch Coal has 36 600 000 shares outstanding. |