SEC v. Tyler Loudon (insider trading, 2024)

Judgment entered

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In May 2024 the Securities and Exchange Commission announced a final judgment against Tyler Loudon of Houston, who it said bought about 46,000 TravelCenters of America shares on confidential information from his then wife, a BP employee on the BP acquisition deal, and made $1,760,000. He was ordered to pay $1,760,000 in disgorgement and $85,600.06 in interest, deemed satisfied by a $1,763,522 criminal forfeiture; no civil penalty was imposed in light of his prison term.

The record

What was ordered

Civil penalty

—

Disgorgement

$1.8m

Prejudgment interest

$85.6k

Total relief

$1.8m

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 judgment on May 31, 2024 as release LR-26013, in a Southern District of Texas case filed February 22, 2024. A partial judgment of March 7, 2024 enjoined Loudon and barred him from serving as an officer or director, and the final judgment followed on May 28, 2024.

Loudon bought the shares between December 22, 2022 and February 6, 2023, before BP's February 16, 2023 announcement. A parallel criminal case against him, United States v. Tyler Loudon, produced the forfeiture and a term of imprisonment that the release does not quantify.

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. 2024-05-31 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.