Action against Defendant, a former Chief Commercial Officer of a cloud security and services company, for alleged insider trading.  According to the SEC, Defendant gifted his brothers shares in the company and later learned that it had missed its internal sales forecast. The SEC alleges that Defendant informed his brothers of the miss and coordinated the sale of their stock with their brokerage firm.  Defendant has agreed to pay a civil penalty of $581,170.

SEC Litigation Release