The U.S. Securities and Exchange Commission recently reached a settlement with the former Chief Revenue Officer of Doximity, Inc., an online networking service platform for U.S. medical professionals, to resolve civil insider trading charges. According to the SEC’s complaint, Paul Jorgensen was serving as CRO when he obtained material nonpublic information regarding the company’s lower-than-expected sales in its quarterly earnings report. Before the earnings call, Jorgensen allegedly sold 61,162 shares of Doximity stock that he was secretly holding in a personal brokerage account, instead of the Doximity-established employee brokerage account where the company required him to hold his shares. He also allegedly failed to disclose the stock sales to the SEC as required. Approximately a year later, Jorgensen allegedly sold additional Doximity securities while in possession of MNPI, just days after he was terminated from Doximity and before the company’s earnings call. According to the SEC, the unlawful trades resulted in aggregate profits and losses avoided of approximately $2.5 million.
The SEC charged Jorgensen with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Section 16(a) of the Exchange Act and Rule 16a-3 thereunder. According to the final judgment, which was filed in the Southern District of New York on March 18, 2026, Jorgensen agreed to be permanently enjoined from violating the federal securities laws. He was also permanently barred from serving as an officer or director of a public company. According to the settlement, any request for disgorgement, prejudgment interest, and/or a civil penalty will be determined by the court upon motion by the Commission.
On January 9, 2026, Jorgensen pleaded guilty to parallel criminal charges filed in connection with his Doximity trades. He, specifically, pleaded guilty to two counts of securities fraud and is currently scheduled to be sentenced on May 21, 2026.
SEC Litigation Release | SEC Complaint