LOS ANGELES — A former national sales manager for PDA Engineering in Costa Mesa has been accused by the Securities and Exchange Commission of illegal insider trading in the company's stock in 1993.
In a civil suit filed this week in U.S. District Court in Los Angeles, the SEC seeks to force Richard J. Smith to pay to the government $138,302. The sum includes $121,668 in profits he received through a series of PDA stock trades he made from April to July, 1993.
Smith, 47, now lives in Nashville, Tenn., but is employed by an Orange County company, the suit says. His present employer was not identified.
Smith was a vice president and North American sales manager for PDA from February, 1990, until he was laid off in August, 1994, when PDA was acquired by a privately held company.