A longtime friend of the general counsel of Cintas Corp. has agreed to pay more than $250,000 to settle allegations that he peeked at confidential merger documents while staying at the GC’s house and used what he learned to perpetrate an insider trading scheme.
The U.S. Securities and Exchange Commission alleged in a complaint in the U.S. District Court for the Southern District of Florida that Brett Fettner discovered that Cintas was poised to merge with G&K Services Inc. in what would be a $2.2 billion deal while he was lacing up his golf shoes in the GC’s den before a charity golf tournament in Cincinnati.
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