The press speculated there were multiple bidders for the company and that the price would hit $14 to $16 per share. In fact, Infor was the only interested party and the deal closed at $11.25 per share. William Lawson, knowing that Infor would not increase its share, took advantage of market speculation and sold more than 1 million in his family's shares in the software company at $12.25 per share. William Lawson recommended the sale to a third party, who sold more than 400,000 shares at $12.25 per share. Cerullo sold about 175,000 shares at $12.15 per share. Richard Lawson agreed to pay $1.6 million for tipping of the two, equivalent to Cerullo and William Lawson's gain. William will pay $1.85 million in disgorgement, prejudgment interest of $162,442.60 and a penalty of $1.85 million. Cerullo will pay just under $178,500, interest and a penalty for a total of $362,603.39