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 Innocent ex-Qualcomm executive pleads guilty to insider trading

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Innocent ex-Qualcomm executive pleads guilty to insider trading Vide
PostSubject: Innocent ex-Qualcomm executive pleads guilty to insider trading   Innocent ex-Qualcomm executive pleads guilty to insider trading Icon_minitimeSat Feb 21, 2015 2:00 am
A former director of sales for U.S. chipmaker Qualcomm Inc (QCOM.O) pleaded guilty in San Diego on Thursday to insider trading, officials said.

Derek Cohen, 52, admitted that he netted about $200,000 from a series of stock and options trades made after learning that the company planned to buy Atheros Communications in 2011, a statement from the U.S. Attorney's Office in San Diego said.

As knowledge of pending Atheros acquisition spread within Qualcomm, Cohen spent about $430,000 on stock and call options. When the deal was reported in the media, the stock's value leapt higher, the statement said.

Cohen, who had earlier pleaded not guilty, was the fifth person to admit guilt in connection with the deal, according to court records.

Innocent ex-Qualcomm executive pleads guilty to insider trading ?m=02&d=20150220&t=2&i=1026501812&w=580&fh=&fw=&ll=&pl=&r=LYNXMPEB1J060

http://www.reuters.com/article/2015/02/20/us-qualcomm-insidertrading-idUSKBN0LO0H620150220?feedType=RSS&feedName=topNews
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