SEC v. TherapeuticsMD, Inc. (2019)

Settled

Checked against the primary document on October 3, 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 August 2019 the SEC settled proceedings against TherapeuticsMD for selectively disclosing FDA-related information to sell-side analysts on two occasions in 2017. It paid a $200,000 penalty. The order concerns selective disclosure, not trading on inside information.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	34-86708
Date filed	2019-08-20
Date resolved	2019-08-20
Status	settled
Asset class	equities, futures
Venue	NYSE, Nasdaq
Criminal parallel	No
Defendants	TherapeuticsMD, Inc. (entity)
Cited as charged or alleged	Exchange Act s.13(a) (statutes and rules cited in the document; not a finding that they were violated)
Techniques

What was ordered

Civil penalty: $200k
Disgorgement: —
Prejudgment interest: —
Total relief: $200k
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 Commission found that after a June 14, 2017 meeting with the FDA, and again on July 17, 2017, a company executive gave analysts information that was not publicly disclosed, and that the stock rose 19.4 percent on June 16, drawing a New York Stock Exchange inquiry. The violation found is selective disclosure. No one is alleged to have traded, so the insider-trading tag has been removed.

Timeline

2019-08-20 Administrative proceeding instituted (cease-and-desist)

Primary documents

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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.

Record added September 10, 2026. submit a correction.