On October 20, 2008, the SEC announced that it had filed a settled enforcement action alleging insider trading against Brian D. Ladin, a former analyst for a hedge fund called Bonanza Master Fund Ltd. (“Bonanza”), in the U.S. District Court for the District of Columbia. The SEC’s complaint alleges that Ladin engaged in insider trading in connection with a 2004 “PIPE” (Wall Street jargon for “private investment in public equity”) offering conducted by Radyne Comstream Inc.
