Silicon Valley executive pays SEC insider trading fine for tipping brothers


By Jonathan Stempel(Reuters) - The U.S.

Securities and Exchange Commission said a former senior executive at Qualys Inc will pay a $581,170 insider trading penalty for helping his brothers sell their shares in the Silicon Valley cloud security company after learning it would report disappointing revenue.Amer Deeba, 51, who resigned this month as Qualys' chief commercial officer, was accused of telling his brothers in April 2015 that the company had missed its first-quarter sales forecast, and arranging for their broker to sell their shares......

This article is no longer available in our repository.

There could be multiple reasons for this.