SEC v. Curt L. Dewitz, No. LR-26200, Northern District of Florida (Dec. 19, 2024) — Press Release
raw: Curt L Dewitz
Curt L Dewitz, No. 3:24-cv-631-TKW (Dec. 19, 2024)
Former biopharmaceutical executive Curt L. Dewitz settled SEC insider trading charges for trading on nonpublic merger information, resulting in a multi-million dollar settlement and officer bar.
Curt L. Dewitz is charged with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 for insider trading. He must pay $70,382.96 in disgorgement, $14,809.53 in prejudgment interest, and a civil penalty equal to his unlawful gains. The settlement also includes a bar from serving as a public company officer or director.
The SEC filed an enforcement action against Curt L. Dewitz, a former biopharmaceutical executive, for insider trading involving two related public companies. Dewitz utilized material nonpublic information regarding a merger between his employer and one of the companies to trade securities ahead of a public announcement. To resolve the charges, Dewitz consented to a judgment without admitting or denying the allegations. He is required to pay $70,382.96 in disgorgement, $14,809.53 in prejudgment interest, and a civil penalty equal to his unlawful gains. Furthermore, the SEC seeks to enjoin him from future violations and bar him from serving as an officer or director of a public company. The case was filed in the United States District Court for the Northern District of Florida and remains subject to court approval.
Exhibits & Attached Documents (1)
Extracted insights
- $70K $70,382 $10K–$100K
- $15K $14,809 $10K–$100K
- person james carlson
- agency Securities and Exchange Commission
- agency the sec’s investigation
- Securities And Exchange Commission Announced The filing of a settled insider trading case against Curt L. Dewitz of Inlet Beach, Florida
- Dewitz Violated The antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder
- The Commission’s action Seeks a final judgment ordering Dewitz to pay disgorgement of $70,382.96 in unlawful profits, along with $14,809.53 in prejudgment interest, and a civil money penalty equal to his unlawful gains
- The action Seeks To Have Dewitz enjoined from future violations of the charged antifraud provisions and barred from serving as an officer or director of a public company
- Dewitz Consented To Entry Of a judgment granting the sought relief
- The SEC’s investigation Was Conducted By Christopher Margand and Thomas E. Woods IV under the supervision of David Frohlich and Stacy Bogert
- The Commission’s litigation Will Be Led By James Carlson
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26200 / December 19, 2024 Securities and Exchange Commission v. Curt Ludwig Dewitz, No. 3:24-cv-631-TKW-HTC (N.D. Fla. filed Dec. 18, 2024) SEC Charges Former BioPharma Exec with Insider Trading The Securities and Exchange Commission today announced the filing of a settled insider trading case against Curt L. Dewitz of Inlet Beach, Florida. Dewitz is a former executive of a biopharmaceutical company. The Commission’s action alleges that he traded in the securities of two related public companies based on material nonpublic information from his former employer. Dewitz’s trading occurred ahead of a public announcement that his employer had agreed to merge with one of the two related public companies. The SEC's complaint, filed in the United States District Court for the Northern District of Florida, alleges that Dewitz thereby violated the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Commission’s action seeks a final judgment ordering Dewitz to pay disgorgement of $70,382.96 in unlawful profits, along with $14,809.53 in prejudgment interest, and a civil money penalty equal to his unlawful gains. The action also seeks to have Dewitz enjoined from future violations of the charged antifraud provisions and barred from serving as an officer or director of a public company. Without admitting or denying the Commission’s allegations, Dewitz has consented to entry of a judgment granting the sought relief. The settlement is subject to approval by the Court. The SEC’s investigation was conducted by Christopher Margand and Thomas E. Woods IV under the supervision of David Frohlich and Stacy Bogert. The Commission’s litigation will be led by James Carlson.
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26200 / December 19, 2024 Securities and Exchange Commission v. Curt Ludwig Dewitz, No. 3:24-cv-631-TKW-HTC (N.D. Fla. filed Dec. 18, 2024) SEC Charges Former BioPharma Exec with Insider Trading The Securities and Exchange Commission today announced the filing of a settled insider trading case against Curt L. Dewitz of Inlet Beach, Florida. Dewitz is a former executive of a biopharmaceutical company. The Commission’s action alleges that he traded in the securities of two related public companies based on material nonpublic information from his former employer. Dewitz’s trading occurred ahead of a public announcement that his employer had agreed to merge with one of the two related public companies. The SEC's complaint, filed in the United States District Court for the Northern District of Florida, alleges that Dewitz thereby violated the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Commission’s action seeks a final judgment ordering Dewitz to pay disgorgement of $70,382.96 in unlawful profits, along with $14,809.53 in prejudgment interest, and a civil money penalty equal to his unlawful gains. The action also seeks to have Dewitz enjoined from future violations of the charged antifraud provisions and barred from serving as an officer or director of a public company. Without admitting or denying the Commission’s allegations, Dewitz has consented to entry of a judgment granting the sought relief. The settlement is subject to approval by the Court. The SEC’s investigation was conducted by Christopher Margand and Thomas E. Woods IV under the supervision of David Frohlich and Stacy Bogert. The Commission’s litigation will be led by James Carlson.