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Securities

November 17, 1998|Debora Vrana

The Securities and Exchange Commission filed an enforcement action in federal court in San Jose charging six people with insider trading in the securities of Molecular Dynamics, a Sunnyvale-based high-tech firm specializing in digital DNA images. The SEC alleges that Hahn Truong, 36, of San Jose, a former manager of Molecular's software engineering group, used confidential corporate information in selling shares in his then-employer and tipping others, who then sold or sold short Molecular shares. Alleged ill-gotten gains of the six people, and an additional person who tipped off the SEC, totaled $429,136, according to the agency. Palo Alto attorney Jared Kopel said his client, Hahn Truong, denies all insider trading allegations and is prepared to fight the charges.

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