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Lawson Software founders settle SEC insider trading charges

( May 12, 2014, 21:15 GMT | Official Statement) -- MLex Summary: Three Lawson Software founders will pay nearly $5.8 million to settle US Securities and Exchange Commission charges that they took advantage of inaccurate media and analyst reports to trade stock ahead of Lawson's 2011 merger, according to a Monday statement. The SEC said incorrect media reports inflated the software company's stock price before the merger, and that co-chairman Richard Lawson tipped his brother William Lawson and family friend John Cerullo so they could sell stock before the shares fell.Statement follows in full. See document below....

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