Fines ordered in Dow Chemical insider trade case

A Michigan federal judge entered final judgments in an insider trading case involving Dow Chemical's multi-billion-dollar acquisition of Philadelphia's Rohm & Haas Co. in 2009.

Mack D. Murrell, at the time a Dow Chemical employee in Michigan, was ordered to pay a civil penalty of $367,250. Charles W. Adams, a Texas stock broker, was ordered to pay a civil penalty of $107,046, and Raymond James Financial Services has to disgorge trading gains of $373,497.

The Securities Exchange Commission's regional office in Philadelphia investigated and brought the charges in Dow's home state of Michigan. John V. Donnelly 3rd and G. Jeffrey Boujoukos conducted the investigation. - Bob Fernandez