Skip to main content

Black Listed News
Trending Articles:
Trending Articles:

Lawyer In Charge of Apple’s Insider-Trading Policy Accused of Insider Trading

Published: February 14, 2019
Share | Print This


Source: bloomberg

At Apple Inc., former top lawyer Gene Daniel Levoff was responsible for making sure employees didn’t violate insider-trading laws. It turns out he was the one who was buying and selling shares illegally, according to U.S. authorities.

Levoff, who until last year was Apple’s senior director of corporate law, repeatedly traded on non-public revenue-and-earnings filings dating back to 2011, the Securities and Exchange Commission and federal prosecutors said Wednesday. The illegal investments led to about $227,000 in profits, while allowing him to avoid $377,000 of losses, according to the U.S. attorney’s office in Newark, New Jersey, which filed criminal charges against Levoff.

For instance, in July 2015, Levoff learned that Apple wouldn’t meet analysts’ third-quarter forecast for iPhone sales, the SEC said in a related civil complaint. That month, he sold about $10 million of Apple stock -- virtually all of his holdings. When the company reported earnings, its shares plunged more than 4 percent. Levoff avoided losing about $345,000, the SEC said.

Levoff’s attorney, Kevin Marino, said he is reviewing both the SEC’s civil complaint and the criminal charges. Levoff, 45, is slated to appear in federal court next week, according to Marino.

Read More...

Share This Article...



Image result for patreon

Emigrate While You Still Can!

Loading...


Image result for patreon


PLEASE DISABLE AD BLOCKER TO VIEW DISQUS COMMENTS

Ad Blocking software disables some of the functionality of our website, including our comments section for some browsers.





Login with patreon to gain access to perks!

SIGN UP TO GET BLACKLISTED NEWS DELIVERED RIGHT TO YOUR INBOX

Enter your email address:





More Blacklisted News...

Blacklisted Radio
Blacklisted Nation
On Patreon
On Gab
On Twitter
On Reddit
On Facebook
Blacklisted Radio:
Republic Broadcasting
Podcasts on Youtube
Podcasts on Demand
On Iheart Radio
On Spreaker
On Stitcher
On iTunes
On Tunein

Our IP Address:
198.245.55.242

Sponsors:
Garden office

good
longboard
brands


Advertise Here...






BlackListed News 2006-2019
Privacy Policy