Mark Murrel, was among the three charged by the securities regulations as part of the insider trading in 2008 for Dow Chemical Co's acquisition of Rohm & Haas Co.
Murrel, was the Vice President for Information Systems at Dow Chemical Co.
Murrel along with a broker and a long time friend participated in scheme which generated illicit profits based on confidential information that was leaked in relation to the acquisition of Dow for Rohm. Based on SEC reports, Murrel learned about the merger from his then girlfriend, now wife, who was the administrative assistant to the Chief Financial Officer of Dow. Murrel, David Tekkel and Charles Adams then used this information to generate $1 million or more in illicit profits.
Tekkel, a stockbroker for Raymond James Financial Services Inc, purchased stock options in Rohm before the set announcement of Dow for the deal. Teekell agreed upon a settlement for the case and will pay an estimate of $1.1 million for prejudgment interest, disgorgement and penalties.
Join the Conversation