Former Apple Vice President of Corporate Law, Gene Levoff, was charged with insider trading by the U.S. Securities and Exchange Commission Tuesday. He was put on leave by Apple in July 2018, and his employment was terminated in September 2018. CNBC reported on the lawsuit, which was filed in the U.S. District Court for New Jersey.
Gene Levoff, senior director of corporate law and corporate secretary until September, “traded on material nonpublic information about Apple’s earnings three times during 2015 and 2016,” according to the lawsuit filed Wednesday in the U.S. District Court of New Jersey. “Levoff also had a previous history of insider trading, having traded on Apple’s material nonpublic information at least three additional times in 2011 and 2012. For the trading in 2015 and 2016, Levoff profited and avoided losses of approximately $382,000,” the complaint says.