SEC v. Scott A. Woodward, CPA (insider trading, 2022)

Settled

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In October 2022 the SEC settled an administrative order against Scott Woodward, a CPA engaged by PFSweb, finding he bought PFSweb stock while holding confidential information about the planned sale of a business unit. He agreed to pay disgorgement and a penalty of $21,326 each, plus $556 of interest.

The record

What was ordered

Civil penalty

$21.3k

Disgorgement

$21.3k

Prejudgment interest

$556

Total relief

$43.2k

Alleged gain

$21.3k

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 announced the order on October 25, 2022 (release 34-96153). It finds that PFSweb hired Woodward in January 2021 to provide accounting services for a possible sale of a business unit, that he bought shares in late June 2021 shortly before the sale was disclosed, and that he later sold them, realising a profit of $21,326.36.

The record had shown $85.8 million as the gain; that is the revenue the business unit generated for PFSweb in 2020, not Woodward's profit, and has been corrected.

This library tags the matter as insider trading, based on the conduct the document describes. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

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. 2022-10-25 Administrative proceeding instituted (102e)

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.