US prosecutors have charged a senior Apple lawyer with insider trading, including accusing the former manager of dumping $10m of stock ahead of disappointing earnings in 2015.
Gene Levoff, who was Apple’s senior director of corporate law until September, is facing criminal charges for exploiting his position to trade Apple shares during “blackout periods” ahead of its earnings announcements.
As a member of the disclosure committee from 2008, serving alongside executives including Apple’s general counsel and vice-president of finance and sales, Mr Levoff obtained Apple’s quarterly earnings filings and press releases around two weeks before they were published to shareholders.
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