SEC Charges Former Lumentum Executive with Insider Trading

On June 3, 2024, the Securities and Exchange Commission filed insider trading charges against Andre Wong for unlawfully trading the securities of NeoPhotonics Corporation (“NeoPhotonics”) ahead of an announcement that his then-employer, Lumentum Holdings Inc. (“Lumentum”), had agreed to acquire NeoPhotonics.

According to the SEC’s complaint, filed in federal district court in the Southern District of New York, Wong learned material nonpublic information about Lumentum’s plans to acquire NeoPhotonics from a colleague at Lumentum.  Based on this information, Wong purchased 10,000 shares of NeoPhotonics stock ahead of Lumentum’s acquisition announcement and generated approximately $62,000 in illegal profits.

Source: SEC Charges Former Lumentum Executive with Insider Trading