WASHINGTON -- A former group vice president of Procter & Gamble Corp. and a former officer of Star Bank Corp.'s lead bank have settled insider-trading charges stemming from Procter & Gamble's acquisition of Noxell Corp. in 1989.
Malcolm Jozoff, 54, and Ellen Millman, 50, who was vice president at Star Bank in Cincinnati, settled without admitting or denying the charges.
In a civil complaint, the SEC said Mr. Jozoff, head of Procter & Gamble's health and beauty care divisions, disclosed nonpublic information about merger talks to Ms. Millman between May and September 1989.
In several transactions over that period, Ms. Millman allegedly bought a total of 2,700 Noxell shares, earning a profit estimated by the SEC of $23,178 after the merger was announced Sept. 25, 1989.
