Photo: by JorgeEduardo/Adobe Stock SEC Sues Ex-Netflix Software Engineer, Others Over Alleged Insider Trading of Streaming Service's Securities
This suit was surfaced by Law.com Radar. Read the complaint here.
August 18, 2021 at 05:40 PM
1 minute read
Securities Litigation
The U.S. Securities and Exchange Commission sued Sung Mo Jun, a former software engineer for Netflix, and other defendants Wednesday in Washington Western District Court for allegedly gaining $3.1 million in profits from insider trading of Netflix securities. Jun is accused of accessing nonpublic information concerning Netflix's subscription levels and sharing it with friends and family members, who in turn allegedly traded Netflix securities in advance of announcements of quarterly earnings. Counsel have not yet appeared for the defendants. The case is 2:21-cv-01108, Securities and Exchange Commission v. Jun et al.
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