Assets will remain frozen for three investors accused of insider trading related to Norwalk-based Arch Chemical’s $1.2 billion sale to a Swiss suitor, authorities say.
The Securities and Exchange Commission has accused the companies of making millions of dollars in trades on confidential information that Lonza Group planned to acquire Arch . The trades were allegedly made ahead of the July 11 announcement of the acquisition.
The SEC said Monday that a judge had issued an order blocking Compania International Financiera SA, Coudree Capital Gestion SA and Chartwell Asset Management Services from access to more than $32 million in funds.
The court had imposed a temporary asset freeze on July 15.
The judge also required that the money from the trades be returned to the United States.
