Gene Levoff, former senior director of corporate law and corporate secretary at Apple, has been released on a $500,000 bond after pleading not guilty to charges of insider trading.
Levoff, who formerly prevented Apple employees from insider trading, is accused of using nonpublic information to buy and sell tens of millions of dollars’ worth of Apple stock. He was fired by Apple last September, two months after being placed on leave.
Apple had third parties audit all its mineral suppliers to be sure none are using their profits to support armed conflicts. Last year, there were five companies who refused the audits and all were dropped from Apple’s list of suppliers.
The iPhone maker regularly tests to be sure the materials that make its computers and accessories are sourced responsibly.
Apple’s former lawyer who was in charge of preventing employees from insider trading has been charged with insider trading himself.
The Securities and Exchange Commission accuses Gene Levoff, former senior director of corporate law and corporate secretary at Apple, of using inside information to buy and sell tens of millions of dollars worth of Apple shares in order to make a profit or avoid losses.
Investigators at the U.S. Department of Justice and the Securities and Exchange Commission are looking into whether or not Apple violated securities laws when it disclosed that it throttles CPU speeds on some iPhones.
Apple revealed at the beginning of the year that it intentionally lowers the speed on iPhones with older batteries to prevent unwanted crashes. Customers in numerous counties have filed lawsuits against the iPhone maker. Now it appears that the feds are getting ready to weigh in.
You might not think an Apple laptop is on the same level as a Cartier watch or an all-expenses-paid blowout in Morocco, but some authorities think different.
The laptop was mentioned in an international corruption investigation into whether brokers Tradition Financial Services ponied up big bucks to win the hearts (and the business accounts) of Libyan officials for investments that netted the firm millions.
