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LAS VEGAS, Nevada -- Shuffle Master Gaming Senior Vice President Brooke Dunn is under investigation by the Securities and Exchange Commission for alleged improper trading in the company's stock by an unrelated third party. The gaming equipment company made the announcement in its own filing with the SEC this morning.
Shuffle Master required Dunn to step down as an executive officer with the company. He was placed on administrative leave, with pay, pending the outcome of the SEC matter. Dunn will not be performing his duties as senior vice president during the period, but will assist in work related to some matters that he was previously handling, the company said in its filing.
According to the filing, the SEC's staff is recommending that a civil charges be filed against Dunn for violating securities laws for allegedly "tipping" insider information to a third party.
Shuffle Master said it is not a subject of the investigation. Dunn has denied any wrongdoing or improper activity, according to the Shuffle Master filing.
"We cannot predict, however, whether Mr. Dunn will make any submission, whether the staff will reconsider its recommendation or whether, if the recommendation is made, the SEC will follow that recommendation and file suit against Mr. Dunn," Shuffle Master said in the filing.
According to his biography on the company Web site, Dunn joined Shuffle Master in 1996 as director of marketing. He was promoted to vice president of marketing in July 1997 and senior vice president in July 2001.
Prior to joining Shuffle Master, Dunn held marketing positions with the Hilton Gaming Corp. and with different casinos, including the Reno Hilton, Harveys in Lake Tahoe and the Flamingo Hilton Laughlin.
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