U.S. securities regulators on Thursday sued Hazem Khalid Al-Braikan of Kuwait, the chief executive of Al-Raya Investment Co, over suspicious trading profits earned after the dissemination of a false takeover announcement for Harman International Industries Inc .

The Securities and Exchange Commission filed the suit in U.S. District Court in Manhattan, saying Al-Braikan and other defendants realized profits of more than $5 million from the trading.

The SEC said the case also involved suspicious trading in securities of Textron Inc .

(Reporting by Martha Graybow; editing by John Wallace)