The charges allege that John Gray, then a Barclays research analyst, and a friend, Christian Keller, traded on confidential merger information that Keller learned while working in finance at two public companies. The pair attempted to conceal the trades in a brokerage account held in a third individual's name and Gray tipped a fourth man so he could trade in advance of announcements, the SEC alleges.
The trades allegedly started when Keller worked as a financial analyst at Applied Materials . The charges hold that Keller and Gray traded before two company acquisitions in 2009 and 2011.
The scheme continued when Keller joined Rovi Corporation in 2012, the SEC alleges.