SEC v. Ariel Darvasi and Amir Waldman (insider trading, 2017)

Settled

✓ Checked against the primary document on October 4, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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The SEC froze the assets of Israeli traders Ariel Darvasi and Amir Waldman in March 2017 over trading in Mobileye ahead of Intel's offer. Darvasi consented to a judgment on July 25, 2017 with $426,995.12 disgorgement and an equal penalty, and Waldman on April 17, 2020 with about $1.08 million disgorgement, $40,889 interest and an equal penalty.

The record

What was ordered

Civil penalty

$1.5m

Disgorgement

$1.5m

Prejudgment interest

$40.9k

Total relief

$3.1m

Alleged gain

$5m

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 Securities and Exchange Commission announced this matter on March 24, 2017 as release LR-23789. The respondents named are Ariel Darvasi and Amir Waldman (2 individuals, 0 entities).

This library tags the matter as insider trading, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The conduct is recorded against equities and options.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

Outcome. The court's judgment as to Darvasi, entered in July 2017 on his consent without admitting or denying, enjoins him from violating Section 10(b) and Rule 10b-5 and Section 14(e) and Rule 14e-3 and orders $426,995.12 in disgorgement and an equal civil penalty. A later SEC release reports that on April 17, 2020 the court entered a consent judgment against Waldman ordering $1,078,300 in disgorgement, $40,889 in interest and a $1,078,300 penalty, and states the SEC's litigation concluded with that judgment. The recorded totals are sums over both men; they do not include amounts against other defendants in the related Waldman case. Checked on 2026-10-04.

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. 2017-03-24 Litigation release published
2. 2017-07-25 Consent final judgment as to Ariel Darvasi
3. 2020-04-17 Consent final judgment as to Amir Waldman; SEC states litigation concluded

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
• Final judgment as to Ariel Darvasi
• SEC litigation release on the Waldman judgment (LR-24799)

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.

Same matter

The library links these 3 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

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

Record added September 10, 2026. submit a correction.