SEC v. Xiaoyu Xia and Yanting Hu (insider trading, 2015)

Settled

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The SEC's April 2015 insider trading case against Xiaoyu Xia and Yanting Hu over options in 58.com ended in final judgments filed on 9 September 2015 in the Southern District of New York. Xia was ordered to pay $1,592,023 in disgorgement, $7,960 in interest and a $750,000 penalty; Hu was ordered to pay $413,969 in disgorgement and $2,069 in interest. Hu's judgment records that she consented without admitting or denying the allegations.

The record

What was ordered

Civil penalty

$750k

Disgorgement

$2m

Prejudgment interest

$10k

Total relief

$2.8m

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 matter on April 29, 2015 as release LR-23249. The respondents named are Xiaoyu Xia and Yanting Hu (2 individuals, 0 entities). The action was brought in the U.S. District Court, Southern District of New York.

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 conduct is recorded against options.

Two separate final judgments were filed on 9 September 2015. Against Xia, the court ordered disgorgement of $1,592,023, prejudgment interest of $7,960 and a civil penalty of $750,000, a total of $2,349,983, and enjoined him from violating Section 10(b) and Rule 10b-5. Against Hu, it ordered disgorgement of $413,969 and interest of $2,069, a total of $416,038, with no penalty, and the same injunction; her judgment states that she consented without admitting or denying the complaint's allegations (apart from jurisdiction). The totals stored on this page add the two judgments. The documents are court judgments, not findings after a trial, so the original allegations of trading on non-public news of a merger were not tested in court.

For the regulator's own account of the facts, read the primary documents linked above. This page summarises the structured record and does not reproduce them.

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. 2015-04-29 Litigation release published
2. 2015-09-09 Final judgments filed against Xia and Hu (S.D.N.Y.)

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
• Final judgment as to Xiaoyu Xia (9 Sep 2015)
• Final judgment as to Yanting Hu (9 Sep 2015)

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.