SEC alleges inside trading in GCI sale

GCI Antenna. (Creative Commons photo by Sir Mildred Pierce )
The Securities and Exchange Commission filed a complaint last Thursday alleging insider trading in the purchase of GCI by a Colorado-based company.
The 13-page complaint laid out a timeline of rapid purchases of high-risk GCI stock options two weeks before it was announced the company would be acquired by Liberty Interactive Corporation.
In a filing with the U.S. District Court in southern New York, the SEC said the defendants are one