On September 17, 2020, the Commission filed a complaint alleging that Sheinfeld sold nearly $1 million in Rite Aid securities in advance of news that caused the price of Rite Aid securities to drop when it became public. The complaint alleges that, after learning confidentially through his employment that the anticipated merger between Rite Aid and Walgreens would not close by an upcoming deadline, Sheinfeld liquidated all of his exercisable Rite Aid employee stock options. The complaint further alleges that Sheinfeld then accessed the accounts of his sister-in-law and adult daughter and sold all of their Rite Aid stock as well.
‘Enforcement 40’ for 2020
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