Karen Matteson

Karen Matteson, senior trial counsel for the SEC, says Calugar's case is more severe in that it deals with late trading, which is illegal, in addition to market timing.Calugar set up a self-clearing broker/dealer as a vehicle for his own trades, which he made after the market closed-more than 18,000 times from 2001 to 2003.Thus, according to the SEC, he was able to act on news after 4 p.m., before other investors who could only do so when the market opened the next day.

SEC senior trial counsel Karen Matteson said her office was evaluating the ruling and had no further comment.
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The SEC is still pursuing claims against former Gateway Chief Financial Officer John J. Todd and former controller Robert Manza, Marmaro and Matteson said.

Karen Matteson, senior trial counsel in the SEC's Pacific regional office, would not comment, noting that the commission's attorneys were still studying the decision.

Some aspects of the case sound dated, even quaint, given all that has transpired since the enactment of Sarbanes-Oxley in 2002.

SEC senior trial counsel Karen Matteson said her office was evaluating the ruling and had no further comment.
...
The SEC is still pursuing claims against former Gateway Chief Financial Officer John J. Todd and former controller Robert Manza, Marmaro and Matteson said.