SEC v. Hari Prasad Sure, et al., Civ. Act. (insider trading, 2022)

Settled

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In 2022 the SEC alleged that three Twilio software engineers and four relatives and friends traded on advance knowledge of Twilio's first-quarter 2020 results. On January 9, 2025 the court entered final judgments against all seven defendants on consent, with injunctions plus disgorgement and prejudgment interest or civil penalties depending on the defendant. Two defendants had pleaded guilty in parallel criminal cases.

The record

What was ordered

Civil penalty

—

Disgorgement

—

Prejudgment interest

—

Total relief

—

Alleged gain

$1m

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 the complaint on March 29, 2022 as litigation release 25350, filed in the Northern District of California.

The complaint alleges Hari Sure, Lokesh Lagudu and Chotu Pulagam concluded in a group chat that the stock would rise, and tipped or used the accounts of Dileep Kamujula, Sai Nekkalapudi, Abhishek Dharmapurikar and Chetan Pulagam despite a company policy forbidding it. Criminal charges were announced against Kamujula.

The release records no outcome. The earlier record named only 'Hari Prasad Sure, et al., Civ. Act.' and left the status unknown.

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. SEC litigation release 26217 (January 14, 2025) says the Northern District of California entered final judgments on January 9, 2025 against all seven named defendants (Hari Prasad Sure, Lokesh Lagudu, Chotu Prabhu Tej Pulagam, Dileep Kumar Reddy Kamujula, Sai Mounika Nekkalapudi, Abhishek Dharmapurikar and Chetan Prabhu Sree Karteek Pulagam). Each consented to the judgment, which means the allegations were resolved by agreement rather than by a court finding after trial. The release says the judgments carry permanent injunctions, disgorgement with prejudgment interest for five defendants, and civil penalties for five (with some defendants bearing both). It also says Sure and Kamujula had earlier pleaded guilty in parallel criminal cases. We opened the judgment documents for Sure (disgorgement of $100,000 plus interest of $5,531.69), Kamujula ($731,322.72 plus $40,454.42), Lagudu (penalty of $38,775.40), Nekkalapudi ($38,775.40 disgorgement, $2,144.94 interest, $38,775.40 penalty) and Dharmapurikar ($4,364.00, $241.41, $4,364.00 penalty). We did not open the two Pulagam judgments, so no combined money figure is recorded here, and criminal sentences are not covered by these sources. 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. 2022-03-29 Litigation release published
2. 2025-01-09 Final judgments entered against all seven defendants on consent

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 26217 (final judgments)
• Final judgment as to Sure
• Final judgment as to Kamujula
• Final judgment as to Lagudu

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.