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  2. In 2019, the Justice Department charged Gene Levoff, who was senior director of corporate law at Apple until he was fired in late 2018, with using nonpublic information about Apple’s financial results that helped him avoid losses and collect profits while illegally making trades ahead of the company’s earnings reports.
    www.nytimes.com/2022/06/30/business/apple-levoff-insider-trading.html
    www.nytimes.com/2022/06/30/business/apple-levoff-insider-trading.html
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    How much money did Steve Levoff make before he was fired?Levoff earned around $277,000, and avoided losses of around $377,000 before he was fired by Apple in 2018. Levoff last June pleaded guilty to six counts of securities fraud for insider trading, and his sentencing took place today. In addition to four years probation, Levoff will pay approximately $604,000.
    What happens if Levoff is convicted of securities fraud?The counts of securities fraud in Mr. Levoff’s plea carry a maximum penalty of 20 years and a $5 million fine. Sentencing is scheduled for Nov. 10. A separate suit by the Securities and Exchange Commission is still pending. The agency was seeking a judgment that would require Mr. Levoff to repay his gains from the trades.
    Why did Steve Levoff make a trade?On several occasions, Mr. Levoff made the trades after sending an email to employees at Apple saying such trades are restricted, according to the initial complaint.
    Why did Steve Levoff buy Apple shares?Due to his position, Levoff was given access to Apple's earnings results before they were made available to the public, and he used the information to buy Apple shares prior to better-than-expected results, and sell shares when there were weaker-than-expected earnings.
     
  4. Former Apple Lawyer Pleads Guilty to Insider Trading

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    WEBJune 01, 2023 at 04:15 PM. 2 minute read. General Counsel and In House Counsel. Trudy Knockless. Reporter. What You Need to Know. A judge reset Gene Levoff's sentencing for Oct. 24. Levoff...

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