SEC v. Oskar Elmgart and Raymond Leibman

Oskar Elmgart and Raymond Leibman allegedly traded in advance of an announcement that CoStar Group, Inc. had agreed to acquire Matterport, Inc. They allegedly traded based on material nonpublic information misappropriated from a close family member who was an employee of Matterport and worked on a commercial agreement relating to the acquisition. Elmgart purchased 260 short-term, out-of-the-money Matterport call options, and Leibman purchased 10,000 shares of Matterport stock. After the announcement, Elmgart sold his call options and made $63,050 in illicit profits, and Leibman's trading yielded unrealized illicit profits of $30,581.

Summary generated from official Securities and Exchange Commission press release