Securities Regulation Daily Wrap Up, ENFORCEMENT—S.D.N.Y.: Prosecutors file insider trading charges against finance director, (Aug 21, 2026)
Organizations Mentioned:Wong Keith Yat Chor
By Anne Sherry, J.D.
The trader allegedly reaped $338,000 in profits from trades based on material nonpublic information.
Prosecutors in New York City charged a former employee of The Trade Desk with trading on information he misappropriated from the tech company. According to the charges, the defendant generated more than $338,000 in profits on foreknowledge of the company’s financial information and results (U.S. v. Mitchell, No. 26-cr-00361 (S.D.N.Y. filed Aug. 17, 2026)).
According to the indictment, as a Senior Director in TTD’s financial planning and analysis team, the defendant had access to confidential financial information and results before they were publicly disclosed.
August 2024 earnings. Prior to TTD’s Q2 2024 earnings announcement, the company’s Chief Legal Officer emailed all employees notifying them of an upcoming trading blackout period, attaching a copy of the company’s insider trading policy. The defendant nevertheless bought TTD stock during the blackout period, netting about $12,000 in profits.
February 2025 earnings. Similarly, the defendant bought options in advance of TTD’s disclosure of Q4 2024 financial results, which he knew would disappoint. Again, the defendant had received an email notification of the blackout period and insider trading policy. When TTD’s stock dropped by almost a third, the defendant sold his put options for $320,000 in profits.
Charges. The defendant is charged with one count of securities fraud under Title 15, which carries a maximum sentence of 20 years in prison; and one count of securities fraud under Title 18, which carries a maximum sentence of 25 years in prison.
“Confidential information is not a personal profit opportunity,” said U.S. Attorney Jamie McDonald. “Importantly, insider trading not only harms investors and the companies from which the information was misappropriated, it undermines the public’s trust in our markets.” McDonald thanked the FBI, SEC, and FINRA.
The case is No. 26-cr-00361.
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