Judgment for Insider Trading for research analyst in SDNY

On February 18, 2020 the US District Court for the Southern District of New York entered a final judgment against Sandeep Aggarwal for insider trading.  Aggarwal was a research analyst who allegedly shared material nonpublic information regarding a business partnership agreement with hedge fund manager Robert Lee approximately two weeks before the agreement was announced publically.  The judgment permanently enjoins Aggarwal from violating Section 10 (b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder that prohibits him from participating in any scheme to defraud, mislead or deceive anyone involved in the sale or purchase of any security.  He was also ordered to pay a civil penalty of $32,428.95 to the SEC pursuant to Section 21A of the Exchange Act. 

SEC press release | SDNY Judgment


You are currently offline.