A former accountant at pizza big Domino’s Pizza Inc. has agreed to pay virtually $2 million to settle allegations of insider buying and selling from the Securities and Trade Fee.
The SEC alleges that from 2015 to 2020, Bernard L. Compton traded forward of a dozen of Domino’s earnings bulletins based mostly on confidential data he acquired whereas working as an accountant within the firm’s company workplace. The fee’s grievance stated that Compton unfold his buying and selling throughout a lot of totally different brokerage accounts that belonged to himself and varied members of his household, and that his illicit income topped $960,000.
“The SEC investigation uncovered that Compton allegedly accessed and reviewed Domino’s confidential knowledge to organize monetary efficiency reviews for senior administration,” stated Joseph Sansone, the chief of the SEC’s market abuse unit, in a press release. “Utilizing modern analytical instruments, SEC employees uncovered the defendant’s repeated misuse of this inside data and are actually holding him accountable.”
Compton neither admitted nor denied the allegations, however he consented to a court docket order on April 19 that features a civil penalty of $1,921,994, and he agreed to not seem or observe earlier than the SEC as an accountant, or to take part within the monetary reporting or auditing of public corporations.
Antalya, Turkey – September 10, 2021: Domino’s Pizza brand element on a recycled pizza field.
YALCIN SONAT/yalcinsonat – inventory.adobe.com