Three cofounders of the former Lawson Software have agreed to pay $5.8 million to settle SEC charges of insider trading. The SEC accused Richard Lawson, chairman of the former Lawson Software, of tipping off his brother and John Cerullo about the impending purchase of the company by Infor. The two were given advance information about terms and passed on that data to a third party before it closed in April 2011. The three made $2 million in profits on their trades. Cerullo and both Lawsons co-founded the software company.