SEC v. Janardhan Nellore et al. (insider trading, 2019)

Settled

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The Northern District of California entered a final consent judgment against former Palo Alto Networks IT administrator Janardhan Nellore on August 1, 2023, enjoining him and requiring $16,614 in disgorgement and interest. The SEC said three co-defendants had settled earlier and the case against Sivannarayana Barama was continuing.

The record

What was ordered

Civil penalty

—

Disgorgement

$16.6k

Prejudgment interest

—

Total relief

$16.6k

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 Nellore used his IT access to learn quarterly earnings, traded and tipped the others, who kicked back profits in small cash amounts to avoid reporting. Nellore was arrested at the airport with one-way tickets to India after an FBI interview.

Outcome. Litigation release 25796 (August 2, 2023) reports that the court entered a final judgment by consent against Nellore on August 1, 2023. He agreed to a permanent injunction against insider trading violations and to pay $16,614 in disgorgement and prejudgment interest combined, which is stored here as disgorgement. The release says three co-defendants had previously settled and that the action against the last co-defendant, Sivannarayana Barama, was continuing; this record does not report what happened to Barama or whether the other four settled on the terms described. The facts remain the SEC's allegations.

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. 2019-12-18 Litigation release published
2. 2023-08-01 Final consent judgment entered against Nellore

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 25796 (Nellore 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.