SEC v. A. Catlin Cade, IV (insider trading, 2018)

Settled

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In August 2018 the SEC charged Alabama accountant A. Catlin Cade IV with buying Golden Enterprises shares the day before its Utz merger was announced, using information from tax work for a company owned by a board member, and settled. He agreed to an injunction, disgorgement of his $8,745 profit with interest, and an equal penalty.

The record

What was ordered

Civil penalty

$8.7k

Disgorgement

$8.7k

Prejudgment interest

—

Total relief

$17.5k

Alleged gain

$8.7k

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The SEC alleged that Cade bought 2,000 shares for $22,467 immediately after learning of the merger through his work, and sold after the announcement the next day for a profit of $8,745. He consented to a permanent injunction, disgorgement plus interest and a penalty equal to his profit. The release refers to a parallel criminal matter. Interest is not itemised, so the stored figures are the profit-based amounts.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2018-08-21 Litigation release published

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.