A jury in the U.S. District Court District of Massachusetts
returned a verdict in favor of the SEC, finding that a
Massachusetts trader made illegal trades using nonpublic
information on five separate occasions.
As previously covered, in a Complaint filed in April 2018, the SEC alleged
that an individual traded in VistaPrint Securities
("VistaPrint") based on confidential information he
learned from a close family friend who worked at the company as a
managerial accountant. The friend allegedly had access to material
nonpublic information, including information about VistaPrint's
quarterly earnings announcements before they became public.
According to the SEC, the trader made a series of extremely risky
and profitable trades over the course of two years, and made over
$800,000 in illegal trading profits.
