2024-05-31 sec-litreleases litigation_release 64 KB 2,326 chars

SEC v. Tyler Loudon, No. LR-26013, Southern District of Texas (May 31, 2024) — Press Release

raw: Tyler Loudon

Tyler Loudon, No. 4:24-cv-622 (May 31, 2024)

Caption: Securities and Exchange Commission v. Tyler Loudon

summary

Houston resident Tyler Loudon received a final judgment for insider trading after misappropriating acquisition information from his wife, resulting in a $1.8 million disgorgement order.

paragraph

Tyler Loudon misappropriated material, nonpublic information regarding BP p.l.c.’s acquisition of TravelCenters of America from his then-wife, a BP employee. Between December 2022 and February 2023, he purchased 46,000 shares to realize $1,760,000 in illicit profits. The court imposed an officer and director bar and ordered him to pay $1,845,600.06 in disgorgement and interest.

narrative

The SEC obtained a final judgment against Houston resident Tyler Loudon for insider trading involving the misappropriation of information from his then-wife, a BP employee. Loudon used nonpublic details regarding BP p.l.c.’s acquisition of TravelCenters of America Inc. to purchase approximately 46,000 shares of stock. These trades, conducted between December 2022 and February 2023, resulted in $1,760,000 in illicit profits. The court permanently enjoined Loudon from violating federal securities laws and imposed an officer and director bar. He was ordered to pay $1,845,600.06 in disgorgement and prejudgment interest, which was satisfied by a separate criminal forfeiture order. No civil penalty was assessed because of the imprisonment term ordered in his parallel criminal case.

Enriched metadata

Scheme: insider-trading (100%)
Court: Southern District of Texas
Case No.: 4:24-cv-622
Outcome: charged · 2024-05-31
Disgorgement: $1,763,522
Entity: Tyler Loudon

Classified insider-trading(confidence 100%). EDGAR detection: forms 4/3/5/144· recall 81% / precision 19%. detection rule →

Extracted insights

Dollar amounts 5

$1.85M $1,845,600 $1M–$10M
$1.76M $1,763,522 $1M–$10M
$1.76M $1,760,000 $1M–$10M
$1.76M $1,760,000 $1M–$10M
$86K $85,600 $10K–$100K

Entities 8

person final judgment
person jason rose
agency julia huseman and jamie haussecker of the sec’s fort worth regional office
person keefe bernstein
agency sec’s investigation
agency Securities and Exchange Commission
person Tyler Loudon
court u.s. district court for the southern district of texas

Triples 15

U.S. Securities and Exchange Commission Obtains Final Judgment Against Houston Resident Charged with Insider Trading Based on Information Misappropriated from His Wife
U.S. District Court for the Southern District of Texas Entered Final Judgment Against Tyler Loudon of Houston, Texas
Tyler Loudon Misappropriated Material Nonpublic Information Regarding the Proposed Acquisition of TravelCenters of America Inc. by BP p.l.c. from His Then Wife
Tyler Loudon Purchased Approximately 46,000 Shares Of Travel Centers Stock
Tyler Loudon Realized an Illicit Profit $1,760,000
Court Entered Partial Judgment Against Tyler Loudon Permanently Enjoining Him from Violating the Antifraud Provisions of the Federal Securities Laws and Imposing an Officer and Director Bar
Court Deferred the Determination of the Amounts of Disgorgement, Prejudgment Interest, and Civil Penalties To a Future Date
Loudon Consented to Entry of the Final Judgment That Ordered Him to Pay Disgorgement of $1,760,000 Plus Prejudgment Interest of $85,600.06, for a Total of $1,845,600.06
Final Judgment Deemed Loudon’s Obligation to Pay the Disgorgement and Prejudgment Interest Satisfied By the Order of Forfeiture of $1,763,522 Ordered in United States v. Tyler Loudon
Final Judgment Did Not Include a Civil Penalty In Light of the Term of Imprisonment Ordered Against Loudon in the Parallel Criminal Case
SEC’s Investigation Was Conducted By Julia Huseman and Jamie Haussecker of the SEC’s Fort Worth Regional Office
SEC’s Investigation Was Under the Supervision Of Jim Etri and B. David Fraser
Litigation Was Led By Jason Rose
Litigation Was Supervised By Keefe Bernstein
SEC Appreciates the Assistance Of The Financial Industry Regulatory Authority, the Federal Bureau of Investigation, and the U.S. Attorney’s Office for the Southern District of Texas

View original SEC litigation releasesec.gov

Extracted body text (2,326c)

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26013 / May 31, 2024 Securities and Exchange Commission v. Tyler Loudon, No. 4:24-cv-622 (S.D. Tex. filed Feb. 22, 2024) SEC Obtains Final Judgment Against Houston Resident Charged with Insider Trading Based on Information Misappropriated from His Wife On May 28, 2024, the U.S. District Court for the Southern District of Texas entered a final judgment against Tyler Loudon of Houston, Texas. As alleged in the SEC’s complaint filed on February 22, 2024, Loudon misappropriated material, nonpublic information regarding the proposed acquisition of TravelCenters of America Inc. by BP p.l.c. from his then wife, who was a BP employee working on the deal. Between December 22, 2022 and February 6, 2023, Loudon purchased approximately 46,000 shares of Travel Centers stock. After the acquisition was announced on February 16, 2023, Loudon realized an illicit profit of $1,760,000. On March 7, 2024, the court entered a partial judgment against Loudon permanently enjoining him from violating the antifraud provisions of the federal securities laws and imposing an officer and director bar. The partial judgment deferred the determination of the amounts of disgorgement, prejudgment interest, and civil penalties to a future date. Thereafter, without denying the SEC’s allegations, Loudon consented to entry of the final judgment that ordered him to pay disgorgement of $1,760,000 plus prejudgment interest of $85,600.06, for a total of $1,845,600.06 and deemed Loudon’s obligation to pay the disgorgement and prejudgment interest satisfied by the order of forfeitureof $1,763,522 ordered in United States v. Tyler Loudon, No. 4:24-cr-57 (S.D. Tex.). The final judgment, which the Court entered on May 28, 2024, did not include a civil penalty in light of the term of imprisonment ordered against Loudon in the parallel criminal case. The SEC’s investigation was conducted by Julia Huseman and Jamie Haussecker of the SEC’s Fort Worth Regional Office, under the supervision of Jim Etri and B. David Fraser. The litigation was led by Jason Rose and supervised by Keefe Bernstein. The SEC appreciates the assistance of the Financial Industry Regulatory Authority, the Federal Bureau of Investigation, and the U.S. Attorney’s Office for the Southern District of Texas.

OCR text (2,326c · html-text · 99% conf)