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Cardiovascular Systems, Inc. Probed Over Federal Insider Trading


5/1/2013 8:52:21 AM

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Cardiovascular Systems Inc. (CSII), a medical-device maker that a news report said is part of a probe of corporate insider investment vehicles, said it got requests for information from the U.S. government and is complying. The vehicles, known as 10b5-1 plans, let corporate insiders with access to nonpublic information trade in securities under predetermined arrangements. CSI said in a statement that it’s “readily providing” information requested by the government. “We have nothing to hide,” said Dave Folkens, a spokesman for the St. Paul, Minnesota-based company. CSI isn’t “the target” of an investigation and has corporate governance procedures in place to prevent insider trading, he said in a statement.

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