The Securities and Exchange Commission has charged an eighth person associated with Atlanta-based children’s clothier Carter’s with insider trading.
Stephen Slawson of Lebanon, N.J., is accused of using advanced, non-public trading information on Carter’s that may have earned him more than $500,000 in profits or avoided losses.
The SEC said Slawson, co-founder and former manager of hedge fund TCMP3 Partners L.P., made at least eight insider trades through the hedge fund or via personal accounts belonging to him or other family members.
Slawson is said to have been tipped on the Carter’s information by hedge fund investment consultant Dennis Rosenberg, who allegedly received inside information from Eric Martin. Martin at the time was Carter’s vice president and director of investor relations, the SEC said.
Slawson also is accused of later communicating with Martin.
Slawson is awaiting trial after a grand jury earlier indicted him on one count of conspiracy to commit securities fraud and wire fraud, 25 counts of securities fraud and nine counts of wire fraud.
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