EX-VPS at Carter’s get prison for in­sider trad­ing

The Covington News - - THE WIRE -

AT­LANTA (AP) — Two for­mer ex­ec­u­tives for At­lanta-based Carter’s Inc. and a port­fo­lio man­ager for a New York hedge fund have been sen­tenced to federal prison af­ter they pleaded guilty in a case in­volv­ing in­sider trad­ing of the chil­dren’s cloth­ing com­pany’s stock.

Eric M. Martin and Richard T. Posey, both for­mer Carter’s vice pres­i­dents, were sen­tenced Tues­day in U.S. District Court in At­lanta. Prose­cu­tors say the men for years traded Carter’s stock based on non­pub­lic in­for­ma­tion about up­com­ing earn­ings re­ports and shared that in­for­ma­tion with oth­ers. Also sen­tenced was Mark Me­galli, a New York port­fo­lio man­ager ac­cused of trad­ing on that in­for­ma­tion.

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