SEC v. Songjiang Wang (insider trading, 2019)

Settled

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The District of Massachusetts entered a final consent judgment on June 9, 2021 against former biopharmaceutical executive Songjiang Wang, enjoining him and imposing a $50,000 penalty and a permanent officer-and-director bar. He was convicted in the parallel criminal case and sentenced to six months.

The record

What was ordered

Civil penalty

$50k

Disgorgement

—

Prejudgment interest

—

Total relief

$50k

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 Securities and Exchange Commission announced this matter on December 20, 2019 as release LR-24697. The respondents named are Songjiang Wang (1 individual, 0 entities).

This library tags the matter as insider trading, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The release references a parallel criminal proceeding. Where a criminal case exists, the civil and criminal outcomes are recorded separately, because they resolve on different standards of proof.

Outcome. Litigation release 25122 (June 25, 2021) reports the June 9, 2021 consent judgment: a permanent injunction against insider trading violations, a $50,000 civil penalty and a permanent officer-and-director bar. The release states that Wang and his friend Jason Chan were both convicted by a jury in the parallel criminal case, that Wang received six months of incarceration, and that Chan, who was sued separately, had earlier been ordered to disgorge $68,699 and pay $13,738 in interest. The release does not say whether Wang admitted the allegations in the civil case.

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. 2019-12-20 Litigation release published
2. 2021-06-09 Final consent judgment entered against Wang

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 litigation release 25122 (final judgment)

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.