Robert Yedid, Andrew Kaufman, and Mark Jacobs
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 26582 / July 10, 2026
Securities and Exchange Commission v. Robert Yedid, Andrew Kaufman, and Mark Jacobs, No. 1:25-CV-06704 (S.D.N.Y. filed Aug. 14, 2025)
SEC Files Proposed Final Judgments Against Former Investor Relations Executive and Two Friends Charged with Insider Trading
On July 8, 2026, the U.S. Securities and Exchange Commission filed proposed final consent judgments as to defendants Robert Alan Yedid, Andrew Kaufman, and Mark Jacobs, whom the SEC previously charged with insider trading that allegedly resulted in more than $500,000 in combined illegal profits.
The SEC’s complaint, filed on August 14, 2025, alleged that Kaufman and Jacobs traded in the securities of numerous public companies based on material nonpublic information provided by Yedid from at least 2019 through 2024. As alleged, during that time, Yedid, a managing director at a consulting firm that assists pharmaceutical and biotechnology companies with investor communications, obtained material nonpublic information about the firm’s clients—including drug trial results, financial and regulatory information, and pending mergers and acquisitions—that he repeatedly shared with Kaufman and Jacobs, who then engaged in lucrative insider trading. Kaufman allegedly shared his illicit proceeds with Yedid by handing him envelopes of cash.
Yedid, Kaufman, and Jacobs each pled guilty to charges in the parallel criminal case, United States v. Yedid, Crim No. 1:25cr248 (S.D.N.Y.). Yedid was sentenced to: (i) 15 months of incarceration; (ii) three years of supervised release; (iii) a fine of $50,000; and (iv) forfeiture of $244,901. Kaufman was sentenced to: (i) time served; (ii) three years of supervised release; (iii) a fine of $95,000; (iv) 450 hours of community service hours; and (v) forfeiture of $489,802. Jacobs was sentenced to: (i) three years of probation; (ii) a fine of $20,000; (iii) 225 hours of community service; and (iv) forfeiture of $36,138.
The final judgments, which are subject to court approval, would order Yedid liable for disgorgement in the amount of $146,940.60 and prejudgment interest of $20,879.31, for a total of $167,819.91; Kaufman liable for disgorgement in the amount of $342,861.40 and prejudgment interest of $48,718.40, for a total of $391,579.80; and Jacobs liable for disgorgement in the amount of $36,138, with the amounts ordered against each defendant deemed satisfied by the forfeiture orders against them in the parallel criminal case.
The Court previously entered bifurcated judgments against Yedid, Kaufman, and Jacobs permanently enjoining them from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and, as to Yedid, barring him from associating with a broker or dealer and from serving as an officer or director of a public company.
The SEC’s investigation was conducted by Jason Anthony, Nancy C. Iheanacho, and Margaret Vizzi, and supervised by Paul H. Pashkoff and Pei Y. Chung. The litigation was led by Daniel Maher and supervised by David A. Nasse.