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After a period of financial decline, SeaWorld was set to beat analysts' financial expectations. The SEC alleged former associate general counsel Paul Powers used that confidential information to turn a profit.
April 09, 2019 at 06:02 PM
1 minute read
The original version of this story was published on Corpcounsel/corpcounsel
A former SeaWorld lawyer has been charged in Orlando with insider trading by allegedly capitalizing on an internal projection of an upturn in company finances.
In a civil complaint filed Tuesday, the Securities and Exchange Commission charged former SeaWorld Parks & Entertainment Inc. associate general counsel Paul Powers used confidential information that the company was set to exceed analysts’ financial performance expectations in the second quarter 2018.
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