SEC v. Ken Peterman (insider trading, 2024)

Alleged — pending

These are allegations. SEC has filed an action; nothing in it has been proven, and the respondents have not been found liable. Everything described on this page is what the regulator alleges, not what a court has found. See our editorial policy.

✓ Checked against the primary document on October 4, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In December 2024 the Securities and Exchange Commission charged Ken Peterman, the former chief executive of Comtech Telecommunications, with selling Comtech stock hours after being fired and while subject to trading blackouts, ahead of the March 18, 2024 negative earnings report, avoiding losses of about $12,445. His adviser could not complete a further sale that would have avoided about $110,000. The complaint seeks an injunction, disgorgement, penalties and a bar; criminal charges were announced in parallel.

The record

What was ordered

Civil penalty

—

Disgorgement

—

Prejudgment interest

—

Total relief

—

Alleged gain

$12.4k

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 this matter on December 18, 2024 as release LR-26197, filing in the Eastern District of New York on December 11, 2024.

The complaint alleges he had received a confidential presentation of the coming results on March 4, 2024 and was told eight days later that he was being terminated. Comtech's stock fell more than 25 percent after the report. The U.S. Attorney's Office for the Eastern District of New York announced a parallel criminal case.

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.

Checked on 2026-10-04: no outcome found on SEC pages or the court docket. The docket (E.D.N.Y. 2:24-cv-08475) shows that the United States moved in January 2025 to intervene and stay the case, and the SEC has filed periodic status reports, the latest on September 16, 2026, with no judgment entered.

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. 2024-12-18 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
• Sec Complaint
• Docket, SEC v. Peterman (E.D.N.Y. 2:24-cv-08475), via CourtListener

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. If this matter has since resolved, been withdrawn or been dismissed, we want to know: submit a correction.