Former Senior Lawyer who advised Tim Cook on Apple’s Compliance with Securities Laws, Charged with Insider Trading
The New York Times reported today that Gene Levoff, a former senior director of corporate law and a corporate secretary at Apple, repeatedly traded on inside information. The S.E.C. said Mr. Levoff violated insider trading laws three times from 2015 to 2016.
In a related action, federal prosecutors in New Jersey charged Mr. Levoff with one count of securities fraud in a criminal complaint.
According to the S.E.C., Mr. Levoff oversaw Apple’s corporate law group of 20 to 30 lawyers and paralegals. He was responsible for Apple’s compliance with securities laws and providing legal advice for the company’s S.E.C. filings and financial reporting. He also served as a corporate officer of every major Apple subsidiary.
Apple spokesman, Josh Rosenstock, said in a statement that "After being contacted by authorities last summer, we conducted a thorough investigation with the help of outside legal experts, which resulted in termination."
In an indication of how senior Mr. Levoff was at the company, he was part of Apple’s disclosure committee — a group that helps Tim Cook, Apple’s chief executive, and Luca Maestri, the chief financial officer, determine whether the company is meeting its responsibilities for providing accurate and timely disclosures to investors. For more on this, read the full NYTimes report here.
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