Apple

The former Apple lawyer who was supposed to keep employees from insider ...


People shop in an Apple retail store in Grand Central Terminal, January 29, 2019 in New York City.


Levoff's position at Apple granted him insider access to not-yet-public earnings results and briefings on iPhone sales, the complaint says.


The agency alleges he bought shares and profited when the stock popped after positive earnings reports, and sold to avoid downturns that followed poor results.


Before his termination, Levoff was "responsible for Apple's compliance with securities laws," the SEC complaint says.


In fact, Levoff shared responsibility for ensuring that employees complied with Apple's insider trading policies.


For example, on February 24, 2011, Levoff sent an email to Apple employees explaining that a blackout period would begin on March 1, 2011, and remain in effect "until 60 hours after earnings are released in April 2011."






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