Levoff was put off Apple in July 2018 and ended in September, according to the SEC trial.
"After being contacted by the authorities last summer, we conducted a thorough investigation with the help of external legal experts, which resulted in the termination," Apple said in a statement. published Wednesday.
Prior to his termination, Levoff was "responsible for Apple's compliance with securities legislation," the complaint told the SEC.
The complaint says:
In fact, Levoff shared responsibility for ensuring that employees comply with Apple's policies on insider trading. On at least three occasions in 2010 and 2011, Levoff sent emails to employees of the company informing them that a blackout period was about to begin and that they were prohibited from trading Apple securities. for the duration of the period. In fact, Levoff sent two emails of this type immediately before his insider hit in 2011.
For example, on February 24, 2011, Levoff sent an email to Apple employees explaining that a blackout period would start on March 1, 2011 and remain in effect "until 60 hours after the publication of the results in April 2011 ".
The first sentence of Levoff's email dated February 24, 2011 stated: "DO NOT FORGET, THE MARKETING IS NOT AUTHORIZED, OR IN AN OPEN NEGOTIATED WINDOW, IF YOU HAVE OR HAVE ACCESS TO IMPORTANT INFORMATION WHICH HAVE NOT BEEN PUBLISHED PUBLICALLY. "
You can read the full complaint of the SEC here: