SEC v. Matthew Brunstrum and Susan Brunstrum (insider trading, 2018)

Settled

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In July 2018 the SEC charged former Stericycle analyst Matthew Brunstrum and his mother Susan with trading before its first-quarter 2016 results, with gains and avoided losses of $159,904 and $170,252. Both agreed to disgorgement of those amounts with interest, subject to court approval; the court will set penalties.

The record

What was ordered

Civil penalty

—

Disgorgement

$330k

Prejudgment interest

—

Total relief

$330k

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 Matthew learned through his job that results would be far worse than expected, traded, and told his mother, who traded as well. The stock fell about 22 percent after the April 28, 2016 announcement. Both consented to injunctions and disgorgement equal to their gains plus interest. The stored figure is the sum, $330,156; penalties were left for the court. A parallel criminal case is referenced.

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. 2018-07-24 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.