Word: itek
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...already pleaded guilty to a variety of insider-trading charges filed by the U.S. Government. Litton's contention: that in November 1982, while Levine was employed by Lehman Bros. Kuhn Loeb (now merged into Shearson Lehman), his illicit trading activities helped puff up the price of stock in Itek, an electronics firm, just as Litton was preparing to buy the company. Shearson officials have described the Litton damage claim as "without merit...
...from Limited Inc. Since the stock's value spurted as a result of the tender offer, he cleared a $95,000 profit. Levine bought 33,000 shares of Carter Hawley Hale and made $222,000. Sokolow, meanwhile, leaked advance information to Levine about Litton Industries' 1982 bid for Itek and R.J. Reynolds' 1985 offer for Nabisco Brands. For those tidbits, the SEC said, Sokolow was paid...
...time went on, Levine's purchases--and profits--grew larger. In November 1982, after joining Lehman Bros., he bought 50,000 shares of Itek. He sold the stock two months later, after Itek was acquired by Litton Industries, netting $805,035. By last May Levine had joined Drexel Burnham Lambert, and in his most lucrative deal yet, he bought 150,000 shares of Nabisco. Three weeks later, speculation over Nabisco's merger talks with R.J. Reynolds enabled him to sell the stock for a profit...
...Itek Optical...
Even those who support the Reagan program are becoming impatient with the budget process. Says Itek Corp. Chairman Robert Henderson, whose high-tech optical company anticipates "significant" first-quarter losses: "I didn't expect that we would knock out the deficit overnight, but I would like to see some indication that we are really working...