SEC v. Robert Del Prete

Robert Del Prete allegedly engaged in insider trading when he purchased shares of HighCape Capital Acquisition Corp. in advance of the company’s announcement that it would merge with Quantum-Si Incorporated. According to the SEC, Del Prete, an accounting consultant to HighCape, was present at HighCape’s board meetings on January 27 and February 17, 2021, at which the planned merger with QSI was discussed. According to the complaint, Del Prete, who had agreed to keep HighCape’s proprietary information confidential, bought shares of HighCape on February 17, 2021, less than an hour after attending the board meeting that day. The complaint further alleged that, within hours of HighCape’s February 18, 2021, press release announcing the deal, Del Prete liquidated his position, realizing an approximate one-hundred percent profit of $60,170 from his trading.

Summary generated from official Securities and Exchange Commission press release