SEC Charges Eric Martin With Insider Trading

SEC v. Eric Martin, Defendant and Robin Martin, Relief Defendant, Case No. 1:12-CV-02922-AT (N.D. Ga.).  On August 23, 2012, the SEC charged Eric Martin with insider trading.  Martin served as the Vice President of Investor Relations for Carter’s Inc.  He traded Carter’s shares during blackout periods while possessing inside information about the company’s financial results.  When Martin had preliminary financial information and was preparing management for earnings calls, he would buy or sell Carter’s stock depending on whether the preliminary information was good or bad.  Martin realized profits and avoided losses in excess of $170,000.  Martin is charged with violating Section 10(b) of the Securities Exchange Act and Rule 10b-5 thereunder.  The SEC is seeking a permanent injunction, disgorgement with prejudgment interest and civil monetary penalties.

This entry was posted in Securities and tagged , , . Bookmark the permalink.