SEC v. Harold L. Altvater, Maureen E. Curran, Susan L. Dubuc (insider trading, 2017)

Settled

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In June 2017 the SEC filed three insider trading complaints over Ariad Pharmaceuticals stock. Curran and Dubuc consented to judgments, subject to court approval, totalling about $12,308 disgorgement and $12,308 penalty; the claims against Harold Altvater, who allegedly made $102,026 trading on his wife's information, remained pending.

The record

What was ordered

Civil penalty

$12.3k

Disgorgement

$12.3k

Prejudgment interest

$1.7k

Total relief

$26.3k

Alleged gain

—

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 Altvater traded Ariad stock on information from his wife, an employee, ahead of three FDA-related announcements in 2013 and 2014, obtaining profits and avoided losses of $102,026, and advised a friend who made $4,188. It alleged that Curran, a former senior director, sold shares in December 2012 before an FDA safety-label decision, avoiding $9,420 of losses, and that Dubuc tipped relatives who avoided $2,888 of losses.

Curran and Dubuc consented to injunctions and payments: Curran $9,420 disgorgement, $1,408.58 interest and a $9,420 penalty; Dubuc $2,888.10, $310.48 and $2,888.10. The stored figures are the sum of those two settlements. The case against Altvater sought relief that had not been decided.

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. 2017-06-27 Litigation release published

Primary documents

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• 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.

Same matter

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Related actions

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

Record added September 10, 2026. submit a correction.