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by Mike Caswell

The U.S. Securities and Exchange Commission has filed insider trading charges against former Hudbay Minerals Inc. lawyer Nino Coppero and two of his associates, claiming that they bought shares of Augusta Resource Corp. ahead of a takeover. According to the SEC, Mr. Coppero learned about a plan by Hudbay to acquire Augusta through his work. He shared that information with a friend, who bought Augusta shares using a British Virgin Islands entity, the SEC says.

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Nino Coppero

The allegations are contained in a civil complaint that the SEC filed on Thursday, Sept. 28, in the Southern District of New York. The case targets Mr. Coppero, a Peruvian lawyer who Hudbay employed for community relations and unspecified legal work from 2011 to 2014. Also a defendant is Mr. Coppero's close friend, another Peruvian lawyer named Julio Castro.

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