SEC Charges Former Lumentum VP With Insider Trading
By Ben Glickman
The U.S. Securities and Exchange Commission on Tuesday charged a former Lumentum vice president for alleged insider trading relating to the company's deal for NeoPhotonics.
The SEC alleged Andre Wong, a former vice president of product line management, purchased 10,000 shares of NeoPhotonics stock after learning of Lumentum's plans to acquire the company.
The SEC's complaint alleges that Wong had learned the material nonpublic information from a colleague who was working on due diligence for the deal. Officials said he generated $62,000 in profit from the subsequent trade.
Wong, 53 years old, was employed by Lumentum until December 2022, according to the SEC complaint.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
June 04, 2024 16:14 ET (20:14 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks