Security Professional Charged with Insider Trading — SEC Press Release

The SEC’s complaint, filed in federal court in New York City, alleges that Todd David Alpert, who worked as a security professional at the home of a Heinz board member, misappropriated material nonpublic information about the then-impending acquisition by purchasing Heinz stock and options before the deal was made public. The complaint specifically alleges that shortly after learning about the potential deal, Alpert breached a duty of trust and confidence by purchasing 1,000 shares of Heinz stock and 30 call options. The morning that the deal was announced, Alpert sold these Heinz securities for total profits of nearly $44,000.

via Todd David Alpert (Release No. LR-23780; Mar. 15, 2017).