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Litigation Release No. 23438 / December 23, 2015

Securities and Exchange Commission v. Bonan Huang, et al., Civil Action No. 2:15-cv-00269 (E.D. Pa.)

Former Capital One Employee to Pay $4.7 Million to Settle Insider Trading Charges

The Securities and Exchange Commission announced that on December 3, 2015, the federal district court in Philadelphia, Pennsylvania entered a final judgment against Bonan Huang, which settles allegations that he traded on misappropriated inside information he illegally obtained from his employer, Capital One Financial Corporation.

Without admitting or denying the SEC's allegations, Bonan Huang consented to the entry of the final judgment in which he has agreed to be permanently enjoined from violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and to pay disgorgement, prejudgment interest and a penalty totaling more than $4.7 million.

The SEC's litigation against Nan Huang continues and that case is scheduled to begin trial on January 11, 2016.

For further information, see Litigation Release No. 23179 (Jan. 22, 2015) and Litigation Release No. 23216 (Mar. 10, 2015).



Modified: 12/23/2015