April 13, 2016
Posted May 2, 2016
The SEC announced insider trading charges against John Ayfriyie, a research analyst who learned about the impending acquisition of home security company The ADT Corporation by Apollo Group Management. The SEC alleges that Ayfriyie accessed several highly confidential, deal-related documents on his firm’s computer network and purchased thousands of high-risk, out-of-the-money ADT call options in his mother’s investment account, in anticipation that ADT’s stock price would rise when the transaction was publicly announced. In a parallel action, the U.S. Attorney’s Office for the Southern District of New York announced criminal charges against Ayfriyie. SEC
Tagged in: Insider Trading,