UNITED STATES SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 17791 / October 17, 2002

Securities and Exchange Commission v. Alan E. Wesa, 01 Civ. Action No. 2613 (October 1, 2001)

SEC SETTLES INSIDER TRADING CASE AGAINST ALAN E. WESA

The Securities and Exchange Commission today announced that on September 30, 2002, the Honorable Beverly B. Martin, United States District Judge, Northern District of Georgia, entered a final judgment of permanent injunction and other relief against defendant Alan Wesa.

Without admitting or denying the allegations of the complaint, the defendant consented to the entry of a final judgment permanently enjoining him from violating the anti-fraud provisions of the federal securities laws [Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, thereunder], and ordering him to pay disgorgement of $14,556, plus prejudgment interest of $6,231.42, and a civil penalty of $14,556, totaling $35,343.42.

In its Complaint filed on October 1, 2001, the Commission alleged that the defendant violated Section 10(b) and Rule 10b-5 thereunder by purchasing Inbrand common stock while in possession of material non-public information. During 1996 and 1997, Alan E. Wesa was the Manager of Financial Planning and Analysis for Inbrand Corporation, then a Georgia corporation engaged in the business of manufacturing and selling adult incontinence products. Prior to the May 13, 1997, announcement that Tyco would acquire Inbrand, Wesa learned of the pending acquisition. On Monday morning, May 12, 1997, while in possession of the material non-public information concerning Tyco's acquisition of Inbrand, Wesa made two separate purchases of Inbrand common stock totaling 1,370 shares. As a result of this trading, Wesa made profits of $14,556.

We acknowledge the NASD for their assistance in this matter. For additional information, see Litigation Release No. 17168 (October 1, 2001).

http://www.sec.gov/litigation/litreleases/lr17791.htm