SEC v. Joseph M. Dupont et al. (insider trading, 2023)

Judgment entered

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In November 2023 the Securities and Exchange Commission announced consent judgments against Joseph Dupont, Stanley Kaplan and Jarett Mendoza for insider trading in Portola Pharmaceuticals ahead of Alexion's May 2020 tender offer. Each was enjoined and barred from serving as an officer or director of a public company; monetary remedies were left to the court, and all three had pleaded guilty in parallel criminal cases.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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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 these judgments on November 28, 2023 as release LR-25903, in a Southern District of New York case filed June 29, 2023. Judgments were entered against Mendoza on August 9 and against Dupont and Kaplan on November 27, 2023.

The complaint alleges that Dupont, an Alexion vice president, tipped a close friend about the planned Portola tender offer, and that the friend traded and passed the information to Kaplan and Mendoza, who also traded. Portola's shares rose more than 130 percent on announcement. The litigation continues against remaining defendants.

Dupont and Kaplan pleaded guilty in September 2023 and Mendoza in June 2023.

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. 2023-11-28 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.

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.