Sports
Minor League Players Accused of Insider Trading in Del Taco
- SEC sues four baseball players over trading before acquisition
- Player learned of upcoming purchase of chain, told buddies
A Del Taco restaurant in Riverside, California.
Photographer: Mark Abramson/BloombergFour current and former minor league baseball players illegally traded on Jack in the Box Inc.’s $575 million purchase of Del Taco Restaurants Inc., according to the US Securities and Exchange Commission.
Jordan Qsar, Austin Bernard, Grant Witherspoon and Chase Lambert allegedly made about $190,000 by trading in advance of the purchase, according to the SEC lawsuit filed in federal court in San Diego on Tuesday. Lawyers for Qsar and Lambert didn’t respond to requests for comment — nor did Bernard and Witherspoon.