The SEC charged an Austin, TX resident and former Dell employee and her husband - a licensed broker with a registered broker-dealer, with insider trading around the public announcement of Dell's tender offer for Perot Systems in September 2009. The husband, John Jantzen, is currently employed and registered with PFS Investments - he's been there since 1991, and he holds a Series 24 license.

    SEC Allegations.   Marleen Jantzen allegedly learned about the deal and, contrary to explicit, written instructions not to trade, she made a highly unusual cash transfer to a brokerage account held jointly by both Jantzens on the last trading day before the deal announcement.  Within minutes of the cash transfer, Mr. Jantzen started buying Perot Systems call options and common stock in the joint account.  All told, he purchased 500 shares of Perot Systems common stock and 24 Perot Systems call options.

Immediately after the deal was announced on 9/21/09, the Jantzens liquidated all their Perot Systems holdings, realizing net trading profits of nearly $27,000.  This is the 2nd case filed by the SEC charging insider trading ahead of the Dell-Perot Systems deal announcement.  The Commission previously filed an emergency action against former Perot Systems employee Reza Saleh for his insider trading ahead of the transaction, and successfully recovered $8.6 million in illicit profits. 

The SEC was assisted by CBOE, Options Regulatory Surveillance Authority, Nasdaq, and FINRA.   [SEC Litigation Rel. 21685, 10/6;  Civil Complaint, 10/5]