On Tuesday, the SEC filed a lawsuit against a Gilat Satellite Networks Ltd. executive, alleging insider trading. The SEC claims that Joshua Levinberg, Gilat’s executive vice president of corporate development and business strategy, bought 102,172 shares of Scopus Video Networks Ltd. in 2008, after learning that the Scopus was looking to be acquired by Gilat or another company. Reuters reports that six days after Levinberg’s final purchase, Scopus was acquired by Harmonic Inc.
According to Reuters, Levinberg’s alleged illegal profit was approximately $188,000. The case was filed in federal court in Manhattan (SDNY).