Todd C. Doucette, 50, made nearly $349,000 in illegal profits by buying Align shares ahead of company earnings announcements in April 2018 and October 2020, the SEC said in a suit filed Tuesday in federal court in New Hampshire.
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According to the SEC, Doucette traded on information he received ahead of the April 2018 announcement that there had been positive growth in key metrics, including the number of net receipts and shipments for Invisalign products in the Americas region.
The regulator said Doucette also traded on other confidential information he learned before the company’s third-quarter earnings announcement in October 2020 — including data showing that gross receipts for Invisalign case shipments had increased 34.6% during the quarter when compared to the same period a year earlier.
Source: Invisalign Maker’s Ex-Vice President Accused of Insider Trading – Bloomberg