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SEC charges N.Y. broker over timely Score Media trades

2023-06-29 20:28 ET - Street Wire

Also Street Wire (C-SCR) Score Media and Gaming Inc (1)

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by Mike Caswell

The U.S. Securities and Exchange Commission has filed insider trading charges against a New York broker and an associate for an insider trading scheme that generated millions of dollars in illegal gains through an insecure laptop computer. The SEC claims that the men traded ahead of the $2-billion takeover of Toronto Stock Exchange listing Score Media and Gaming Inc. in 2021. (All figures are in U.S. dollars.) They learned about the takeover and other deals through unauthorized access to a girlfriend's work laptop, the SEC says.

The allegations are contained in a civil complaint that the SEC filed on Thursday, June 29, in federal court in New York. The defendants are Jordan Meadow, 34, of New Jersey, and Steven Teixeira, 32, of New York. The men also face parallel criminal charges in New York, with Mr. Meadow being arrested Thursday morning and Mr. Teixeira having previously agreed to plead guilty.

The charges arise from inside information that Mr. Teixeira obtained through his girlfriend, who worked at an investment bank as an executive assistant. The SEC says that she shared an apartment with Mr. Teixeira and often worked from home. Starting in late 2020, Mr. Teixeira began accessing her laptop while she was away, the SEC claims. He looked through her e-mail application to find attachments that contained the names of investment bank clients and had the terms of potential deals that the bank was working on for those clients, the complaint states.

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these are all disclosure issues. management too lazy to stick news releases out, so deals are done "out of the blue" to investors reading news releases but everybody and their dog talking bout it... how come the canadian bank didnt rat on the brothers who took a loan out to buy boyd auto stock? its ridiculous that a deal was made and brothers had time to go to the bank and get approved for a bank loan and bought the stock...that is non disclosure by management and by the lawyers who are advising or a part of the deal---- they all laughing

Posted by oh at 2023-06-30 00:11

ewfoundland mining and securities commission all involved in a listed stock scam at the moment, p o s newfies, u newfie p o s' scumbags

Posted by oh at 2023-06-30 09:44