Curt L Dewitz
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 26200 / December 19, 2024
Securities and Exchange Commission v. Curt Ludwig Dewitz, No. 3:24-cv-631-TKW-HTC (N.D. Fla. filed Dec. 18, 2024)
SEC Charges Former BioPharma Exec with Insider Trading
The Securities and Exchange Commission today announced the filing of a settled insider trading case against Curt L. Dewitz of Inlet Beach, Florida. Dewitz is a former executive of a biopharmaceutical company. The Commission’s action alleges that he traded in the securities of two related public companies based on material nonpublic information from his former employer. Dewitz’s trading occurred ahead of a public announcement that his employer had agreed to merge with one of the two related public companies.
The SEC's complaint, filed in the United States District Court for the Northern District of Florida, alleges that Dewitz thereby violated the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Commission’s action seeks a final judgment ordering Dewitz to pay disgorgement of $70,382.96 in unlawful profits, along with $14,809.53 in prejudgment interest, and a civil money penalty equal to his unlawful gains. The action also seeks to have Dewitz enjoined from future violations of the charged antifraud provisions and barred from serving as an officer or director of a public company. Without admitting or denying the Commission’s allegations, Dewitz has consented to entry of a judgment granting the sought relief. The settlement is subject to approval by the Court.
The SEC’s investigation was conducted by Christopher Margand and Thomas E. Woods IV under the supervision of David Frohlich and Stacy Bogert. The Commission’s litigation will be led by James Carlson.