Apple

Ex-Apple Exec Who Oversaw Insider Trading Policy Profited On Inside Info, SEC Says


The SEC has accused a former Apple executive of using advance information about the company's finances to sell off stock and avoid losses.


The SEC has accused a former Apple executive of using advance information about the company's finances to sell off stock and avoid losses.


Here, stock numbers for Apple are displayed on a screen at the Nasdaq MarketSite in Times Square last month in New York City.


"For example, in July 2015 Levoff received material nonpublic financial data that showed Apple would miss analysts' third quarter estimates for iPhone unit sales.


He was also chair of the company's Disclosure Committee — where he was was privy to "material nonpublic information about Apple's financial results" — from September 2008 until July 2018, when he was placed on leave.


The SEC wants Levoff to pay back the profits gained and losses avoided due to his alleged actions, which the commission says amounts to approximately $382,000.






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