Insider trading claim by regulators

Dallas: An employee at former US presidential candidate H Ross Perot’s investment adviser was sued by regulators for alleged insider trading ahead of Dell Inc’s $3.9 billion (€2.6bn) takeover bid for Perot Systems Corp.

Reza Saleh, 53, reaped an $8.6 million (€5.86m) profit buying call options less than three weeks before Dell’s biggest-ever acquisition, the Securities and Exchange Commission claimed in a complaint at federal court in Dallas.

He works at Parkcentral Capital Management LP and Perot Investments, which have affiliations and share space with Perot Systems, the SEC said.