Litigation Releases (Kevan Sadigh)

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26504 / March 23, 2026

Securities and Exchange Commission v. Kevan Sadigh, No. 2:15-cv-06460 (C.D. Cal. filed Aug. 25, 2015)

SEC Obtains Final Consent Judgment as to Former Resident of Los Angeles Charged with Insider Trading

On March 20, 2026, the United States District Court for the Central District of California entered a final consent judgment as to Kevan Sadigh, an entrepreneur and former resident of Los Angeles, in the SEC's civil enforcement action against him for insider trading.

According to the SEC's complaint, filed on August 25, 2015, Sadigh was tipped by a friend and work colleague, who in turn had been tipped by his close friend, an analyst in J.P. Morgan Securities LLC's San Francisco office, concerning material nonpublic information about two corporate acquisitions in which JPMS played an advisory role. The complaint alleges that Sadigh and his colleague, acting largely in parallel, reaped large profits by making unlawful securities trades on the basis of that material nonpublic information.

The final consent judgment permanently enjoins Sadigh from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder by committing or engaging in specified actions or activities relevant to such violations, and Section 14(e) of the Exchange Act and Rule 14e-3 thereunder. The final judgment also orders Sadigh liable for disgorgement in the amount of $108,120, which is deemed satisfied by the entry of an order of forfeiture in the parallel criminal case, United States v. Sadigh, No. 2:15-cr-00465-TJH (C.D. Cal.).

The SEC's litigation is being led by David S. Mendel and James E. Smith, and supervised by Christopher Bruckmann, Paul E. Kim, and Joseph Sansone.