SEC v. Robert L. Ruffalo and others (insider trading, 2025)

Settled

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In January 2025 the Securities and Exchange Commission settled with Robert, Bobbi and Kathrine Ruffalo and Charlie Harte, who traded PGT Innovations and Masonite securities on information passed from Masonite director Barry Ruffalo through his son William, making illicit profits of $21,722, $11,674, $5,587 and $19,672. Combined, they agreed to $58,655 in disgorgement, $1,276 in interest and $70,885 in penalties.

The record

What was ordered

Civil penalty

$70.9k

Disgorgement

$58.7k

Prejudgment interest

$1.3k

Total relief

$131k

Alleged gain

$58.7k

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 issued this settled order on January 17, 2025 (Release No. 34-102248).

The order finds the four respondents traded before the December 18, 2023 announcement of Masonite's planned acquisition of PGT and the February 9, 2024 announcement of its acquisition by Owens Corning. Robert Ruffalo's penalty is $33,396, Bobbi Ruffalo's $12,230, Kathrine Ruffalo's $5,587 and Harte's $19,672; the others' penalties equal their disgorgement. The recorded totals add the four stated amounts.

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. 2025-01-17 Administrative proceeding instituted (cease-and-desist)

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 order

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.