Prosecutors say that between March and June 2025, the pair engaged in a scheme to obtain information about the companies, which announced they had entered into merger agreements “that resulted in significant increases in the share price of each company’s stock.”
Two men who worked for a private business that provides services for companies filing to the Securities and Exchange Commission’s EDGAR system, were charged with insider trading after allegedly pocketing US$1 million ($1.27 million) by stealing non-public information obtained through their jobs.
Justin Chen and Jun Zhen, both of Brooklyn, New York, were charged with obtaining non-public information about companies like Purple Innovation Inc., Ondas Holdings Inc., SigmaTron International Inc., and Signing Day Sports Inc. through their work, according to Brooklyn US Attorney Joseph Nocella.
