The Securities and Exchange Commission filed charges of insider trading against James Andrew Stiles Jr. and Edward Gray Stiles Jr. The charges stem from their trading activity in Eastman Kodak Company stocks and Novavax, Inc. The SEC claims that James Andrew Stiles Jr. who works for a medicine supply company obtained nonpublic information regarding Kodak’s attempts to secure a loan of $765 million from the government to manufacture chemicals in order to strengthen the supply chain domestically for pharmaceuticals during COVID-19. He purchased over 95,000 Kodak shares before the public announcement. His cousin Edward Gray Stiles Jr. also purchased over 45,000. Both individuals sold Kodak stocks after the announcement, making an illegal profit of $1.5million. The SEC claims that James Andrew Stiles Jr. bought 1,844 Novavax stock shares while working as consultant for the company based upon nonpublic information concerning its efforts to secure funding of a COVID-19 drug, resulting in illegal profits of more than $45,000. U.S. Attorney’s Office for the Southern District of New York announced criminal charges as well against the Stiles Cousins. The SEC complaint accuses the cousins of violating security laws and seeks a variety of penalties, including disgorgement, a civil fine, and permanent injunction. Megan Ryan conducted the SEC investigation, which was overseen by Assunta Vitolo and Mr. Sansone. Judson Mishok and Gregory Bockin from the Philadelphia Regional Office are leading the litigation. The SEC would like to acknowledge the U.S. Attorney’s Office of Southern District of New York as well the Federal Bureau of Investigation (FBI) and Financial Industry Regulatory Authority for their assistance.
Recover Investment Losses
Are you experiencing investment losses? Consult with an investment expert. investment fraud attorney. Haselkorn & Thibaut are a reputable law firm that specializes in investment fraud. Their attorneys have extensive experience in securities litigation and arbitration. They work tirelessly to make sure their clients get the justice and compensation that they deserve.
Haselkorn & Thibaut, with a 98% successful rate and millions recovered by investors, is the best choice for investors who are looking for legal recourse to their investment losses.
It is important to act immediately if you believe you may have been a victim of an investment fraud.
Haselkorn & Thibaut, a firm of experienced investment fraud lawyers, will assess your situation and guide you to the best way to recover your losses. Also, it’s important to know that if you don’t recover, there will be no fee.
Contact Haselkorn & Thibaut today for a free consultation at 1-888-784-3315or website at InvestmentFraudLawyers.com.
SEC: What You Need to Know
Securities Exchange Commission, or SEC, is an American regulatory agency which oversees and enforces the federal securities laws. The Securities Exchange Commission (SEC) was founded in 1934 as a response to the 1929 stock market crash. Its goals were to protect investors, maintain fair and efficient markets and facilitate capital formation. It is the SEC’s responsibility to regulate the securities sector, which includes securities exchanges as well as brokers, investment advisers, and publicly traded companies. The SEC is responsible for regulating the securities industry, including brokers, investment advisors and public companies. SEC enforces compliance with the securities laws via investigations, enforcement action, and sanctions. SEC’s role is critical in maintaining integrity and stability of U.S. financial markets.
More information can be found at