'Insider trading' suit against Kerkorian advances

Newswire

DETROIT, Aug 23 (Reuters) - A lawsuit alleging that billionaire investor Kirk Kerkorian engaged in illegal "insider trading" of DaimlerChrysler shares has been tentatively cleared for trial by a federal judge. The suit alleges that the Las Vegas casino mogul and his Tracinda Corp. investment company sold more than 7.5 million DaimlerChrysler shares over three months beginning in March 1999 after receiving inside information about the automaker's declining cash flow and profits. When the ...

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