SEC v. Charlie Jinan Chen

Charlie Jinan Chen allegedly engaged in insider trading in advance of five earnings announcements of Vistaprint N.V. According to the SEC, Chen knowingly traded in the securities of Vistaprint based on material non-public information provided to him by a family friend who was a Vistaprint insider or the friend’s spouse. According to the evidence, the information Chen received enabled him to purchase options ahead of several quarterly earnings announcements and profit from the resulting price movement. Chen traded both in a brokerage account in his own name and one in the name of his wife, and made nearly $900,000 from the scheme. The evidence at trial also showed that Chen lied to the FBI about his relationship with the Vistaprint insider.

Summary generated from official Securities and Exchange Commission press release