June 15, 2022
A California federal judge has ordered the brother-in-law of a former engineer with Snap Inc. to pay more than $573,000 for allegedly using inside information to reap more than $261,000 in profits, after the court granted the U.S. Securities and Exchange Commission's default judgment motion.
December 09, 2021
A former engineer with Snapchat parent company Snap Inc. is facing a U.S. Securities and Exchange Commission lawsuit that claims he tipped off his brother-in-law that the company had beat its earnings estimates, covertly wiring him cash to execute trades that would reap the duo more than $261,000 in illegal profits, the agency said Thursday.