US SEC charges former Foot Locker senior director with insider trading

Foot Locker

24/09/2024 17:14

NEW YORK, Sept 24 (Reuters) - The U.S. Securities and
Exchange Commission charged a former Foot Locker  FL.N 
executive on Tuesday with insider trading, saying he sold short
the retailer's stock prior to two earnings announcements in
2023.
    In a complaint filed in Manhattan federal court, the SEC
said Barry Siegel, who had been a Foot Locker senior director of
order planning management, reaped more than $112,000 of profit
by trading on material nonpublic information that suggested Foot
Locker's results would disappoint investors.
    

 (Reporting by Jonathan Stempel in New York)
 ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters
Messaging: jon.stempel.thomsonreuters.com@reuters.net))