On September 10, 2026, a federal judge in the Southern District of New York entered a final consent judgment against Paul W. Jorgensen, the former Chief Revenue Officer (“CRO”) of Doximity, Inc., a digital platform serving U.S. medical professionals. The SEC had accused Jorgensen of engaging in insider trading for using confidential company information to trade ahead of two negative earnings announcements in August 2022 and August 2023, ultimately enabling him to avoid losses of approximately $2.5 million. Under the final judgment, Jorgensen was ordered to pay disgorgement of $2,532,775.00 and prejudgment interest of $490,077.54, totaling $3,022,852.54, though the court credited the forfeiture he had already paid in a related criminal case, leaving a remaining balance of $490,077.54 owed to the SEC. The court also incorporated the terms of a March 18, 2026 consent judgment reached with the SEC that permanently barred Jorgensen from serving as an officer or director of any public company and enjoined him from future violations of federal securities laws.
The SEC’s civil complaint, which was filed on March 16, 2026, alleged that while serving as Doximity’s CRO, Jorgensen obtained material nonpublic information (“MNPI”) about the company’s disappointing quarterly sales figures before they were publicly disclosed. Prior to the company’s earnings call, he allegedly sold more than 61,000 shares of Doximity stock through a personal brokerage account that he had kept hidden from the company, rather than holding the shares in a company-monitored account as Doximity’s internal policies required. According to the SEC, he also failed to report these stock sales to the SEC as required. Approximately one year later, Jorgensen allegedly engaged in further sales of Doximity securities while still privy to MNPI, conducting the transactions just days after his termination from the company and ahead of another earnings call. The SEC charged him with violating Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934 for the illicit trades, and Section 16(a) and Rule 16a-3 for his failure to report.
In a parallel criminal proceeding, Jorgensen pleaded guilty on January 9, 2026, to two counts of securities fraud in connection with the same trading scheme. He was sentenced on May 21, 2026, to 26 months in prison followed by 24 months of supervised release and was ordered to forfeit $2,532,775.
SEC Litigation Release | SEC Litigation Release – March 17, 2026