The U.S. Securities and Exchange Commission (SEC) recently moved for summary judgement on insider trading claims against a former attorney at tech giant Apple Inc. The SEC argues there is no need to relitigate claims, as the former Apple attorney has already pled guilty to criminal charges associated with a profitable insider trading scheme.
The case in point highlights the continuing efforts of the SEC to clamp down on and deter insider trading activities, using both civil and criminal penalties. Even former top-level employees of prestigious corporations are evidently not immune to these rigorous enforcement efforts.
Additional details on this development, including the nature of the insider trading scheme and its implications for Apple Inc. and its standing in the corporate world, can be found in the original report published by Law360.