Insider-trading probe involves House committee, financial firms

07/21/2014 | Bloomberg Brief

The Securities and Exchange Commission has subpoenaed the House Ways and Means Committee and a committee staff member as part of an insider-trading investigation that also includes a large number of hedge funds and other financial organizations. The case revolves around the disclosure of a health policy change that caused an uptick in insurance companies' stock prices. Attorneys for the House and the staff member are contesting the subpoenas.

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