Former Senior Attorney at Apple Attorney Caught Insider Trading
On February 14, 2019 insider trading charges were advance against the Apple lawyer responsible for supervising insider trading at that company. The charges were brought by the SEC.
As alleged, in house compliance attorney, Gene Daniel Levoff (who formerly acted as Apple’s global head of corporate law and corporate secretary), was privy to insider information as to Apple’s quarterly earnings announcements. Levoff had a prime position who regularly reviewed Apple’s numbers prior to public release.
Levoff purportedly traded ahead of quarterly earnings releases 2015 and 2016. The total profit take trading Apple (or losses avoided) were about $382,000. As stated, Levoff, in his executive role supervised Apple’s insider trading policy.http://please call us Toll Free at 1-877-430-4877 for a Free Consultation or email us at Anthony@Abrahamattorneys.com
Associate Director of SEC enforcement, Antonia Chion stated: “… alleged exploitation of his access to Apple’s financial information was particularly egregious given his responsibility for implementing the company’s insider trading compliance policy.”
Obviously, there must have been one too many bites at the Apple.
The SEC’s charged fraud and is seeking insider trading recovery of profits, interest, penalties, an injunction, and an officer-and-director bar. The U.S. Attorney’s Office for the District of New Jersey also advanced criminal charges.
Anthony M. Abraham, Esq., PC is experienced in broker fraud, churning and unauthorized trading claims. If you suspect that your account has been mismanaged, please call us Toll Free at 1-877-430-4877 for a Free Consultation or email us at Anthony@Abrahamattorneys.com