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U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 23954 / September 29, 2017

Securities and Exchange Commission v. Avaneesh Krishnamoorthy, No. 17-cv-02953 (S.D.N.Y. filed Apr. 24, 2017)

SEC Obtains Final Judgment Against Investment Bank VP Charged With Insider Trading

The Securities and Exchange Commission has obtained a final judgment against a former vice president in the risk management department of a New York-based investment bank charged with insider trading on confidential information he learned in advance of a private equity firm's acquisition of a publicly-traded technology company.

The final judgment, entered on September 26, 2017 by the Honorable Alison J. Nathan of the U.S. District Court for the Southern District of New York, permanently enjoins Avaneesh Krishnamoorthy from violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The judgment also orders Krishnamoorthy liable for disgorgement of $78,712.80, which will be deemed satisfied by either the entry of a forfeiture order in the parallel criminal action or proof of payment of that amount to the U.S. Attorney's Office for the Southern District of New York. The judgment also orders Krishnamoorthy to pay $1,216.28 in interest. Krishnamoorthy has also agreed to lifetime bars from the securities industry and from participating in penny stock offerings.

The SEC's litigation was led by Alison Levine, Preethi Krishnamurthy and Thomas P. Smith, Jr. and was supervised by Sanjay Wadhwa.

 

https://www.sec.gov/litigation/litreleases/2017/lr23954.htm


Modified: 09/29/2017