Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Saturday, May 25, 2024 | Back issues
Courthouse News Service Courthouse News Service

Two Accused of Herbalife Inside Trading

WASHINGTON (CN) - The SEC on Tuesday accused two men of inside trading on Herbalife stock.

Filip Szymik, of New York City, will settle by paying a $47,100 civil penalty, the SEC said in a settled complaint .

Jordan Peixoto , of Toronto, will fight the charges.

The SEC accuses the men of trading on inside information that hedge fund Pershing Square Management CEO William Ackman was taking a $1 billion short position on Herbalife stock.

Ackman has long claimed that Herbalife is a pyramid scheme.

Szymik learned about it from his roommate, a Pershing analyst, and he told Peixoto, who made $47,100 in illicit profits, the SEC said in a statement.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...