Have a Claim?

Click here for a confidential contact or call:

1-347-417-2192

September 20, 2017

Posted  November 28, 2017

The Securities and Exchange Commission today charged Peter C. Chang with insider trading in company stock by using secret brokerage accounts held in the names of his wife and brother. The SEC alleges that Chang, who also was the founder and chairman of the board at Alliance Fiber Optic Products, generated more than $2 million in illicit profits and losses avoided by trading on nonpublic information and tipping his brother ahead of two negative earnings announcements and the company’s merger.   According to the SEC’s complaint, Chang was the company’s largest shareholder and required under the federal securities laws to disclose his ownership of company securities as an officer and director.  Chang allegedly traded company shares secretly in the family member accounts, often times from his work computer after attending board meetings where confidential information was discussed. SEC

Tagged in: Insider Trading, Securities Fraud,