SEC v. Gene Daniel Levoff (insider trading, 2019)

Judgment entered

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In February 2019 the SEC charged Gene Levoff, Apple's former head of corporate law, with trading Apple securities before three earnings announcements in 2015 and 2016. On 2 July 2024 a New Jersey federal court granted the SEC summary judgment, finding he violated the antifraud provisions, and ordered a $1,147,440 civil penalty, an injunction and an officer-and-director bar. He had pleaded guilty in a parallel criminal case in 2022.

The record

What was ordered

Civil penalty

$1.1m

Disgorgement

—

Prejudgment interest

—

Total relief

$1.1m

Alleged gain

$382k

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 Levoff, who sat on the committee reviewing draft earnings materials and was responsible for the company's insider trading compliance, used what he learned to trade ahead of three quarterly earnings announcements, for about $382,000 in combined profits and losses avoided.

Outcome. The SEC's July 2024 release says the District of New Jersey granted the SEC summary judgment on 2 July 2024, finding that Levoff violated Section 10(b) and Rule 10b-5 and Section 17(a). The relief was a permanent injunction, an officer-and-director bar, a civil penalty of $1,147,440 (three times his profits and losses avoided), and disgorgement with interest that the court treated as satisfied by his forfeiture in the criminal case. The release also reports that Levoff pleaded guilty to securities fraud in a parallel criminal case on 30 June 2022; it does not report his sentence, so none is recorded here. This is a contested ruling by the court on the SEC's motion, not a settlement.

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. 2019-02-13 Litigation release published
2. 2024-07-02 Court grants SEC summary judgment: injunction, officer-and-director bar and $1,147,440 penalty

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
• SEC litigation release 26045 (summary judgment)

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 2 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.