(HedgeCo.Net) The Securities and Exchange Commission has filed insider trading charges against a former senior attorney at Apple whose duties included executing the company\u2019s insider trading compliance efforts. <\/p>\n
The SEC\u2019s complaint alleges that Gene Daniel Levoff, an attorney who previously served as Apple\u2019s global head of corporate law and corporate secretary, received confidential information about Apple\u2019s quarterly earnings announcements in his role on a committee of senior executives who reviewed the company\u2019s draft earnings materials prior to their public dissemination. Using this confidential information, Levoff traded Apple securities ahead of three quarterly earnings announcements in 2015 and 2016 and made approximately $382,000 in combined profits and losses avoided. The SEC\u2019s complaint alleges that Levoff was responsible for securities laws compliance at Apple, including compliance with insider trading laws. As part of his responsibilities, Levoff reviewed and approved the company\u2019s insider trading policy and notified employees of their obligations under the insider trading policy around quarterly earnings announcements. <\/p>\n
\u201cLevoff\u2019s alleged exploitation of his access to Apple\u2019s financial information was particularly egregious given his responsibility for implementing the company\u2019s insider trading compliance policy,\u201d said Antonia Chion, Associate Director of the SEC\u2019s Division of Enforcement. \u201cThe SEC is committed to pursuing insiders who breach their duties to investors.\u201d <\/p>\n
The SEC\u2019s complaint, filed in federal district court in Newark, New Jersey, charges Levoff with fraud and is seeking the return of his ill-gotten trading profits plus interest, penalties, a permanent injunction, and an officer-and-director bar.<\/p>\n
In a parallel action, the U.S. Attorney\u2019s Office for the District of New Jersey today announced criminal charges.<\/p>\n","protected":false},"excerpt":{"rendered":"
(HedgeCo.Net) The Securities and Exchange Commission has filed insider trading charges against a former senior attorney at Apple whose duties included executing the company\u2019s insider trading compliance efforts. The SEC\u2019s complaint alleges that Gene Daniel Levoff, an attorney who previously […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048,16047],"tags":[],"class_list":["post-67985","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news","category-insider-trading-2"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/67985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=67985"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/67985\/revisions"}],"predecessor-version":[{"id":67986,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/67985\/revisions\/67986"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=67985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=67985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=67985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}