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"It's clear that Levoff used his position as the Chairman

Feb. 24, 2019 by Paul Fletcher

"It's clear that Levoff used his position as the Chairman of the SEC to make illegal money," says Michael McBride, a professor of communications at Boston University School of Law, who is a member of the SEC's antitrust committee. "This is the sort of behavior that is going to set a very high bar for any business and in fact the standard for any court of law."

"This is the kind of behavior that is going to set a very high bar for any business and in fact the standard for any court of law." – Michael McBride

"There's nothing here that shows that Levoff was at fault for the illegal actions," says William H. Stiles, a professor of legal and public policy and public policy studies at Duke University. "His actions as Chairman of the SEC have been based on a lie about the facts about how the business was going." The SEC alleges that Levoff, who resigned his position in March 2013, used his position as Apple's senior director of corporate law to make illegal trades of Apple shares.

"This is the sort of behavior that is going to set a very high bar for any business and in fact the standard for any court of law," says Michael McBride, a professor of communications at Boston University School of Law, who is a member of the SEC's antitrust committee. "This is the kind of behavior that is going to set a very high bar for any business and in fact the standard for any court of law." – William H. Stiles, a professor of legal and public policy and public policy studies at Duke University

In June 2015, Levoff allegedly used his position as Chairman of the SEC to make illegal trades of Apple shares. He sold his entire holding of Apple stock, totaling more than $10 million, to hedge the loss of $3 million. According to the SEC, Levoff then sold his entire holding of Apple stock and, in July 2015, sold $3 million of his own remaining $3 million to hedge the loss of $2.3 million, worth around $2.5 million.

"The SEC alleges that Levoff used his position as the Chairman of the SEC to make illegal trades of Apple shares," Stiles says. "This is the sort of behavior that is going to set a very high bar for any business and in fact the standard for any court of law." – Michael McBride