January 26, 2016

April 17, 2014

The SEC charged Keith Seilhan, a former 20-year employee of BP and a senior responder during the 2010 Deepwater Horizon oil spill, with insider trading in BP securities based on confidential information about the magnitude of the disaster.  According to the SEC’s complaint, BP tasked Seilhan with coordinating BP’s oil collection and clean-up operations in the Gulf of Mexico and while in possession of material, nonpublic information, and in breach of duties owed to BP and its shareholders, he directed the sale of his family’s entire $1 million portfolio of BP securities over the course of two days in late April 2010.  SEC

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