SEC Sues Ex-Green Mountain Worker Over $7M Insider Trading

Law360, New York (August 2, 2013, 5:07 PM EDT) -- A former Green Mountain Coffee Roasters Inc. manager and his friend reaped $7 million by trading on inside information ahead of the company’s earnings announcements between 2010 and 2013, the U.S. Securities and Exchange Commission alleged in a complaint unsealed Wednesday.

The suit in Connecticut federal court claims Chad McGinnis, a former manager in Green Mountain’s IT department, purchased company securities shortly before earnings were publicly announced. McGinnis also tipped his friend and business associate Sergey Pugach, who then traded Green Mountain stock, the SEC said....
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Case Information

Case Title

Securities & Exchange Commission v. McGinnis et al


Case Number

3:13-cv-01047

Court

Connecticut

Nature of Suit

Securities/Commodities

Judge

Alfred V. Covello

Date Filed

July 24, 2013

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