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Securities

BRIEFLY

July 31, 1992|From Times Staff and Wire Reports

Magazine Describes Huge Insider-Trading Ring: Business Week magazine alleges that New York-based Frost & Sullivan Holding Corp. was at the center of an insider-trading network that invested some $20 million in about two dozen deals from 1989 to 1991. The story, in the Aug. 10 issue of the magazine, says Frost & Sullivan concealed investments from European clients by routing them through Luxembourg subsidiaries of Panama-based companies. Among the deals the ring was allegedly involved in were the takeovers of Jerrico Inc., Birmingham Steel, Norton Co. and Motel 6, says the article.

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