Kinnucan charged by SEC following arrest

Monday, 20 February 2012 00:00 - - {{hitsCtrl.values.hits}}

Reuters: John Kinnucan, an independent analyst at Broadband Research arrested on Thursday as part of a government insider trading probe, was hit on Friday with a civil lawsuit by the US Securities and Exchange commission.

The regulator accused Kinnucan of violating federal insider trading laws by obtaining material nonpublic information from employees at a variety of public technology companies, including F5 Networks Inc, and giving the information to clients in exchange for payments.

Kinnucan was arrested without incident at his Portland, Oregon, home late Thursday afternoon, and is expected to appear Friday in a federal court in that city, the FBI said.

F5 did not immediately respond to a request for comment. The SEC lawsuit was filed in the US District Court in Manhattan.