SEC investigating SolarWinds over sale of $315 million shares days before Cyberattack was revealed to public

IT Management Software company SolarWinds, whose software was breached in a Russian cyberattack, said in an SEC filing that it is cooperating with an inquiry from the Securities and Exchange Commission. The SEC probe, which had not been disclosed previously, comes after the largest investors in SolarWinds sold $315 million in shares of the company […]

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Nasdaqs temporary operations move to Chicago may stymie high speed traders’ front-running gambit or will they evade it?

High-frequency traders and hedge funds which have an advantage to “see” orders and buy shares based on what others are trading, then sell them at fractionally higher prices. This is a form of front running and many are now saying that this advantage is essentially handicapping other traders, imposing a form of tax on global […]

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Insider Trading and the SEC Whistleblower Program

Insider Trading and the SEC Whistleblower Program

Insider trading is an illegal practice in which a party trades a public company’s securities (stocks, bonds, stock options, etc.) based on material, nonpublic information about that company. Insider-trading laws aim to prevent this practice and protect market integrity. Detecting, preventing, and prosecuting insider-trading violations is one of the Security and Exchange Commission’s (“SEC”) top […]

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Global statistics across multiple continents to signify insider-trading ring.

U.S. Officials Uncover Three-Continent Insider-Trading Ring

A recent case involving an insider-trading ring highlights the importance of reporting fraud to the federal government. Under the Securities and Exchange Commission (SEC) whistleblower program, a person who voluntarily provides the government with original, actionable information concerning a past, ongoing, or potential violation of U.S. securities laws is entitled to financial compensation if the […]

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Former Petmed exec and Director of Marketing James Alex Irvin charged with insider trading by SEC

The Securities and Exchange Commission yesterday filed insider trading charges against a former executive of a Florida corporation who repeatedly traded on and tipped confidential information that he obtained through his employer. The SEC’s complaint, Petmed complaint filed in the U.S. District Court for the Southern District of Florida, alleges that James Alex Irvin, of […]

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Former distinguisehed Harvard Business School Alum billionaire Raj Rajaratnam released from insider trading prison sentence two years early

Former distinguished Harvard Business School billionaire alum Sri Lankan American Raj Rajaratnam, whose Galleon Group managed more than $7 billion, and who was central to the largest hedge fund insider-trading rings in the history of the U.S., was released from prison two years early. He has been living with his family on a quiet block […]

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SEC wins jury trial against Raymonth Pirello securities broker charged with insider trading

Jurors in Atlanta federal court returned a verdict finding a securities broker Raymond J. Pirrello, Jr. liable for insider trading in advance of three merger and acquisition transactions. The SEC’s evidence at trial revealed that Pirrello received highly confidential nonpublic information about the impending acquisitions of Radiant Systems Inc., Midas Incorporated Inc., and BrightPoint Inc. […]

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Securities & Exchange Commission charges investment banking analyst at Siris Capital Group with insider trading

The Securities and Exchange Commission today charged an analyst at a large international investment bank with insider trading based on confidential information that he learned about Siris Capital Group’s plans to acquire Electronics for Imaging, Inc. (EFII). According to the SEC’s complaint filed in federal court in Manhattan, Bill Tsai, a junior investment banker in […]

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graph illustrating trends

Boston Restaurant Owner Accused of Insider Trading of Vistaprint Stock Resulting in Profits of Over $850,000

Charlie Jinan Chen, a Boston restaurant owner, is accused of insider trading of Vistaprint stock after illegally receiving confidential information from a former Vistaprint employee. His wife, Shui Foon Mak, is also being charged for her part in reaping the illegal profits, which are believed to be in excess of $850,000. But, how did this […]

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