SEC v. Herbert K. Sudfeld (insider trading, 2016)

Judgment entered

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In November 2016 the SEC announced a consent judgment against former attorney Herbert Sudfeld for trading before the 2011 Harleysville Group merger, requiring $91,747 in disgorgement and interest and an injunction. The claim against his wife as relief defendant was dismissed.

The record

What was ordered

Civil penalty

—

Disgorgement

$91.7k

Prejudgment interest

—

Total relief

$91.7k

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 Securities and Exchange Commission announced the outcome on November 9, 2016 as litigation release 23687.

The court entered judgment by consent against Sudfeld on August 18, 2016, ordering him to pay disgorgement and prejudgment interest of $91,747 and enjoining him from violating Section 10(b) and Rule 10b-5. The SEC voluntarily dismissed its claim against Mary Jo Sudfeld, named only as a relief defendant.

The record previously said the matter was dismissed; only the relief-defendant claim was.

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. 2016-11-09 Litigation release published

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

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.