SEC Charges Former Lumentum VP With Insider Trading
By Ben Glickman
The U.S. Securities and Exchange Commission on Tuesday charged a former Lumentum vice president for alleged insider trading relating to the company's deal for NeoPhotonics.
The SEC alleged Andre Wong, a former vice president of product line management, purchased 10,000 shares of NeoPhotonics stock after learning of Lumentum's plans to acquire the company.
The SEC's complaint alleges that Wong had learned the material nonpublic information from a colleague who was working on due diligence for the deal. Officials said he generated $62,000 in profit from the subsequent trade.
Wong, 53 years old, was employed by Lumentum until December 2022, according to the SEC complaint.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
June 04, 2024 16:14 ET (20:14 GMT)
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