Madison Square Garden Co chairman settles US securities charges: FTC

Madison Square Garden Co chairman settles US securities charges: FTC

U.S. regulators have charged the chairman of the Madison Square Garden Co , which owns the New York Knicks and New York Rangers sports teams, with securities violations, the Federal Trade Commission said in a statement on Thursday.

New York Knicks owner Dolan speaks during a news conference announcing the team's new head coa
New York Knicks owner Dolan speaks during a news conference announcing the team's new head coach in New York

WASHINGTON: U.S. regulators have charged the chairman of the Madison Square Garden Co , which owns the New York Knicks and New York Rangers sports teams, with securities violations, the Federal Trade Commission said in a statement on Thursday.

James Dolan, who serves as executive chairman, agreed to pay US$609,810 in civil penalties to settle allegations that he failed "to report in a timely manner his acquisition of voting securities," the FTC said.

(Reporting by Susan Heavey; Editing by Mohammad Zargham)

Source: Reuters

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