Insider Trading Charges Filed Against Charles Holzer in Connection to Dun & Bradstreet Acquisition
The Securities and Exchange Commission has filed insider trading charges against Charles Rustin Holzer, an former broker and family office executive who the SEC previously accused of trading in Dun & Bradstreet Corp. (DNB) options on inside information. According to the new complaint, nine days prior to the company’s August 8, 2018 acquisition announcement, Holzer obtained material nonpublic information about the pending purchase agreement from an investment advisor and used it to purchase 23,000 shares of DNB stock in offshore accounts belonging to two Cayman Islands-based entities he controlled. The SEC alleges that these trades resulted in $391,308 in illicit profits for Holzer and his entities, which are ordered to disgorge profits totaling $391,308 plus interest. The SEC is also seeking a civil penalty against Holzer of three times his illicit trading profits - $1,173,926.