SEC v. Andre Wong, No. LR-26016, Southern District of New York (June 4, 2024) — Press Release
raw: Andre Wong
Andre Wong, No. 1:24-cv-04231 (S.D.N.Y. June 4, 2024)
Former Lumentum executive Andre Wong faces SEC insider trading charges for using nonpublic acquisition information to generate $62,000 in profits from NeoPhotonics stock.
The SEC charged Andre Wong with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 for insider trading. Wong purchased 10,000 shares of NeoPhotonics Corporation ahead of its acquisition by Lumentum, yielding approximately $62,000 in illegal profits. The agency is seeking permanent injunctive relief, disgorgement with prejudgment interest, and civil penalties.
The SEC filed insider trading charges against former Lumentum Holdings Inc. executive Andre Wong in June 2024. Wong utilized material nonpublic information obtained from a Lumentum colleague to purchase 10,000 shares of NeoPhotonics Corporation prior to its acquisition by Lumentum. This trading activity generated approximately $62,000 in illegal profits. The case was initiated by the SEC Market Abuse Unit’s Analysis and Detection Center through data analysis of suspicious patterns. Wong is charged with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. To resolve the matter, the SEC seeks permanent injunctive relief, disgorgement of profits with interest, and civil penalties.
Exhibits & Attached Documents (1)
Extracted insights
- $62K $62,000 $10K–$100K
- person andre wong
- person joshua r. geller
- person preethi krishnamurthy
- agency Securities and Exchange Commission
- person Sushila Rao Pentapati
- agency the sec’s litigation
- Securities And Exchange Commission filed insider trading charges Andre Wong
- Andre Wong purchased 10,000 shares of NeoPhotonics stock
- Andre Wong generated approximately $62,000 in illegal profits
- Andre Wong learned material nonpublic information about Lumentum’s plans to acquire NeoPhotonics from a colleague at Lumentum
- Securities And Exchange Commission charges Andre Wong with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5
- Securities And Exchange Commission seeks permanent injunctive relief, disgorgement with prejudgment interest, and civil penalties
- Securities And Exchange Commission conducted investigation by Joshua R. Geller, John Rymas, Lindsay S. Moilanen, and Elzbieta Wraga
- Joshua R. Geller will lead the SEC’s litigation
- Sushila Rao Pentapati will lead the SEC’s litigation
- Preethi Krishnamurthy will lead the SEC’s litigation
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26016 / June 4, 2024 Securities and Exchange Commission v. Andre Wong, Civil Action No. 1:24-cv-04231 (S.D.N.Y. filed June 3, 2024). SEC Charges Former Lumentum Executive with Insider Trading On June 3, 2024, the Securities and Exchange Commission filed insider trading charges against Andre Wong for unlawfully trading the securities of NeoPhotonics Corporation (“NeoPhotonics”) ahead of an announcement that his then-employer, Lumentum Holdings Inc. (“Lumentum”), had agreed to acquire NeoPhotonics. According to the SEC’s complaint, filed in federal district court in the Southern District of New York, Wong learned material nonpublic information about Lumentum’s plans to acquire NeoPhotonics from a colleague at Lumentum. Based on this information, Wong purchased 10,000 shares of NeoPhotonics stock ahead of Lumentum’s acquisition announcement and generated approximately $62,000 in illegal profits. The case originated from the SEC Market Abuse Unit’s Analysis and Detection Center, which uses data analysis tools to detect suspicious trading patterns. The SEC’s complaint charges Wong with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 [15 U.S.C. § 78j(b)] and Rule 10b-5 thereunder [17 C.F.R. § 240.10b-5] and seeks permanent injunctive relief, disgorgement with prejudgment interest, and civil penalties. The SEC’s investigation was conducted by Joshua R. Geller, John Rymas, Lindsay S. Moilanen, and Elzbieta Wraga of the Market Abuse Unit and New York Regional Office and was supervised by Joseph G. Sansone. Mr. Geller, Sushila Rao Pentapati, and Preethi Krishnamurthy will lead the SEC’s litigation. SEC Complaint
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26016 / June 4, 2024 Securities and Exchange Commission v. Andre Wong, Civil Action No. 1:24-cv-04231 (S.D.N.Y. filed June 3, 2024). SEC Charges Former Lumentum Executive with Insider Trading On June 3, 2024, the Securities and Exchange Commission filed insider trading charges against Andre Wong for unlawfully trading the securities of NeoPhotonics Corporation (“NeoPhotonics”) ahead of an announcement that his then-employer, Lumentum Holdings Inc. (“Lumentum”), had agreed to acquire NeoPhotonics. According to the SEC’s complaint, filed in federal district court in the Southern District of New York, Wong learned material nonpublic information about Lumentum’s plans to acquire NeoPhotonics from a colleague at Lumentum. Based on this information, Wong purchased 10,000 shares of NeoPhotonics stock ahead of Lumentum’s acquisition announcement and generated approximately $62,000 in illegal profits. The case originated from the SEC Market Abuse Unit’s Analysis and Detection Center, which uses data analysis tools to detect suspicious trading patterns. The SEC’s complaint charges Wong with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 [15 U.S.C. § 78j(b)] and Rule 10b-5 thereunder [17 C.F.R. § 240.10b-5] and seeks permanent injunctive relief, disgorgement with prejudgment interest, and civil penalties. The SEC’s investigation was conducted by Joshua R. Geller, John Rymas, Lindsay S. Moilanen, and Elzbieta Wraga of the Market Abuse Unit and New York Regional Office and was supervised by Joseph G. Sansone. Mr. Geller, Sushila Rao Pentapati, and Preethi Krishnamurthy will lead the SEC’s litigation. SEC Complaint