SEC v. Barry A. Ruffalo (insider trading, 2025)

Settled

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In January 2025 the Securities and Exchange Commission settled with Barry Ruffalo, a former Masonite director, finding that he tipped his son William twice, before Masonite's December 2023 announcement of its PGT Innovations acquisition and its February 2024 sale to Owens Corning, producing profits of $15,350 and $45,918. Ruffalo agreed to a cease-and-desist order, an officer and director bar and a $122,536 penalty.

The record

What was ordered

Civil penalty

$123k

Disgorgement

—

Prejudgment interest

—

Total relief

$123k

Alleged gain

$61.3k

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 issued this settled order on January 17, 2025 (Release No. 34-102246).

The order finds he obtained the information through his board seat and passed it to his son, who traded on both occasions. Related orders the same day cover William Ruffalo and four relatives and a friend who traded on the information.

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.

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. 2025-01-17 Administrative proceeding instituted (cease-and-desist)

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 order

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.