SEC brings charges over false Harman takeover news
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)
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