The Securities and Exchange Commission filed a complaint in a federal court in New York against the former chief executive officer and member of the Board of Directors of GenTek, Inc., a public company, and the manager of one of his favorite restaurants related to insider trading of the company’s stock. According to the complaint, William Redmond, Jr. the former CEO, routinely discussed the pending acquisition of GenTek by American Securities LLC with Stefano Signorastri, the manager of the restaurant, prior to a public announcement about the acquisition. The SEC charged that Mr. Signorastri purchased GenTek stock based on this nonpublic information. Mr. Signorastri sold all his GenTek stock after the public announcement of the proposed acquisition for a profit of $164,260, said the SEC. According to a proposed settlement that must be approved by the court, Mr. Redmond will pay over US $240,000, representing the disgorgement of most of the profits of Mr. Signorastri and a penalty, while Mr. Signorastri will pay approximately $85,000 representing the remainder of the disgorgement and a penalty. Neither Mr. Redmond nor Mr. Signorastri will admit or deny the charges in the SEC’s complaint.