SEC v. Andre Wong, No. LR-26237, Southern District of New York (Feb. 4, 2025) — Press Release
raw: Andre Wong
Andre Wong, No. 1:24-cv-04231 (S.D.N.Y. Feb. 4, 2025)
summary
Former tech executive Andre Wong obtained a final judgment for insider trading in NeoPhotonics stock ahead of its acquisition by Lumentum Holdings Inc.
paragraph
Andre Wong was charged with insider trading for using material nonpublic information to purchase 10,000 shares of NeoPhotonics Corporation. He generated approximately $62,000 in illegal profits prior to the November 2021 acquisition announcement. The final judgment requires Wong to pay $62,574 in disgorgement, $12,924 in interest, and a $93,861 civil penalty.
narrative
The SEC obtained a final judgment against former Lumentum Holdings Inc. executive Andre Wong for insider trading in NeoPhotonics Corporation. Wong utilized material nonpublic information obtained from a colleague to purchase 10,000 shares of NeoPhotonics ahead of its acquisition by Lumentum. This trading generated approximately $62,000 in illegal profits. To resolve the charges of violating Section 10(b) of the Securities Exchange Act and Rule 10b-5, Wong consented to a judgment without admitting or denying the allegations. He is barred from serving as a public company officer or director for five years. Financially, Wong must disgorge $62,574 in gains plus $12,924 in prejudgment interest and pay a $93,861 civil penalty. The case was driven by data analysis from the SEC’s Market Abuse Unit.
Classified insider-trading(confidence 99%). EDGAR detection: forms 4/3/5/144· recall 81% / precision 19%. detection rule →
Parties
Securities and Exchange CommissionAndre Wong
Keywords
wongsecurities exchangeandre wongexchange commissionmarket abuseabuse unitsecuritiessecexchangefinalneophotonicslumentuminsider tradingacquire neophotonicsandre
Exhibits & Attached Documents (2)
Extracted insights
Dollar amounts 4
- $94K $93,861 $10K–$100K
- $63K $62,574 $10K–$100K
- $62K $62,000 $10K–$100K
- $13K $12,924 $10K–$100K
Entities 9
- company about lumentum holdings inc.'s plans to acquire neophotonics corporation
- person andre wong
- person final judgment
- person joshua r. geller
- person lindsay s. moilanen
- agency sec enforcement division's market abuse unit analysis and detection center
- agency Securities and Exchange Commission
- person Sushila Rao Pentapati
- person suspicious trading patterns
Triples 13
- Securities And Exchange Commission obtained final judgment Andre Wong
- Securities And Exchange Commission charged Andre Wong
- Andre Wong learned material nonpublic information about Lumentum Holdings Inc.'s plans to acquire NeoPhotonics Corporation
- Andre Wong purchased 10,000 shares of NeoPhotonics stock
- Andre Wong generated approximately $62,000 in illegal profits
- Final Judgment enjoins Andre Wong from violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5
- Final Judgment bars Andre Wong from serving as an officer or director of a public company for five years
- Final Judgment orders Andre Wong to disgorge $62,574 plus $12,924 in prejudgment interest
- Final Judgment orders Andre Wong to pay a civil penalty of $93,861
- SEC Enforcement Division's Market Abuse Unit Analysis and Detection Center detected suspicious trading patterns
- Joshua R. Geller led the litigation
- Lindsay S. Moilanen led the litigation
- Sushila Rao Pentapati led the litigation
PDF (from attached: complaint)
Text layers
Extracted body text (1,941c)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26237 / February 4, 2025 Securities and Exchange Commission v. Wong, No. 1:24-cv-04231 (S.D.N.Y. filed June 3, 2024) SEC Obtains Final Judgment Against Former Tech Executive for Insider Trading On January 30, 2025, the Securities and Exchange Commission obtained a final consent judgment against Andre Wong, whom the SEC previously charged with insider trading in the securities of NeoPhotonics Corporation ahead of an announcement that Wong’s then-employer, Lumentum Holdings Inc., had agreed to acquire NeoPhotonics. The SEC’s complaint, filed on June 3, 2024, alleged that 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 November 4, 2021 acquisition announcement and generated approximately $62,000 in illegal profits. The case originated from the SEC Enforcement Division’s Market Abuse Unit Analysis and Detection Center, which uses data analysis tools to detect suspicious trading patterns. Without admitting or denying the SEC’s allegations, Wong consented to entry of a final judgment permanently enjoining him from violations of the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and barring him from serving as an officer or director of a public company for a period of five years. The final judgment also orders Wong to disgorge his illicit gains of $62,574 plus prejudgment interest thereon in the amount of $12,924, and to pay a civil penalty in the amount of $93,861. The litigation was led by Joshua R. Geller and Lindsay S. Moilanen of the Market Abuse Unit and Sushila Rao Pentapati of the New York Regional Office, and supervised by Market Abuse Unit Chief Joseph G. Sansone and Preethi Krishnamurthy of the New York Regional Office.
OCR text (1,941c · html-text · 99% conf)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26237 / February 4, 2025 Securities and Exchange Commission v. Wong, No. 1:24-cv-04231 (S.D.N.Y. filed June 3, 2024) SEC Obtains Final Judgment Against Former Tech Executive for Insider Trading On January 30, 2025, the Securities and Exchange Commission obtained a final consent judgment against Andre Wong, whom the SEC previously charged with insider trading in the securities of NeoPhotonics Corporation ahead of an announcement that Wong’s then-employer, Lumentum Holdings Inc., had agreed to acquire NeoPhotonics. The SEC’s complaint, filed on June 3, 2024, alleged that 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 November 4, 2021 acquisition announcement and generated approximately $62,000 in illegal profits. The case originated from the SEC Enforcement Division’s Market Abuse Unit Analysis and Detection Center, which uses data analysis tools to detect suspicious trading patterns. Without admitting or denying the SEC’s allegations, Wong consented to entry of a final judgment permanently enjoining him from violations of the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and barring him from serving as an officer or director of a public company for a period of five years. The final judgment also orders Wong to disgorge his illicit gains of $62,574 plus prejudgment interest thereon in the amount of $12,924, and to pay a civil penalty in the amount of $93,861. The litigation was led by Joshua R. Geller and Lindsay S. Moilanen of the Market Abuse Unit and Sushila Rao Pentapati of the New York Regional Office, and supervised by Market Abuse Unit Chief Joseph G. Sansone and Preethi Krishnamurthy of the New York Regional Office.