Lawyer Settles SEC’s Insider Trading Suit
Honorable Richard J. Holwell of the United States District Court for the Southern District of New York entered a final judgment against Todd Leslie Treadway.
The judgment orders Treadway to pay full disgorgement of the ill-gotten gains plus prejudgment interest and a civil penalty limited to $10,000 based on his current financial condition.
The Commission’s complaint in this case alleged that in 2007, and again in 2008, Treadway, while employed as an attorney in the New York office of Dewey & LeBoeuf, used material, non-public information he obtained through his position at the firm to purchase stock in two separate companies prior to the announcement of the acquisition.
In June 2007, Treadway purchased securities in Accredited Home Lenders Holding Company, and in May 2008, Treadway purchased securities in CNET Networks, Inc.
According to the complaint, Treadway’s illegal trading resulted in profits of approximately $27,000.
The SEC also issued an administrative order suspending Treadway from appearing or practicing before the Commission as an attorney.
Treadway consented to the entry of the judgment and the issuance of the Order.
The Commission acknowledges the assistance of FINRA.