Today, the SEC announced charges against 13 defendants in four separate insider trading schemes:
- Garelick/Shvartsman/Shvartsman/Rocket One Capital LLC (for illegal insider trading in the securities of Digital World Acquisition Corporation);
- Dagar/Bhiwapurkar (for illegal insider trading in the securities of Pfizer Inc.);
- Dupont/Cronin/Mendoza/Kaplan/Feldman (for illegal insider trading in the securities of Portola Pharmaceuticals Inc.); and
- Meadow/Teixeira (for illegal insider trading in the securities of numerous issuers)
The SEC alleges that these defendants, which include corporate executives and insiders, a police chief, and a SPAC board member, made more than $40 million in ill-gotten gains, collectively, from their schemes.
Source: Statement on Insider Trading Enforcement Actions Announced on June 29, 2023
