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A former Domino’s Pizza accountant has been ordered to pay a nearly $2 million penalty for insider trading in the company’s stock, the Securities and Exchange Commission said Thursday.
Bernard L. Compton used confidential financial data he obtained as an accountant at Domino’s corporate office to trade ahead of 12 of the company’s earnings announcements between 2015 and 2020, the SEC said in a press release.
A Domino’s Pizza restaurant is seen in Los Angeles, California. (Reuters Photos) The SEC said Compton allegedly used several different brokerage accounts belonging to himself and his family members to make these trades – leading to more than $960,000 in illicit profits. An SEC complaint filed last week accused Compton of violating the antifraud provisions of the Securities and Exchange Act of 1934. DOMINO'S PIZZA SAYS WORKER SHORTAGE HURTING SALES The SEC said Compton consented to the court’s order issued Tuesday that permanently enjoins him from violating these provisions and orders him to pay a civil penalty of more than $1.9 million. Compton further agreed to be suspended from appearing and practicing before the SEC as an accountant – which means he can not participate in the financial reporting or audits of public companies. Compton neither admitted nor denied the allegations. Online court records do not list an attorney who could speak on his behalf. CLICK HERE TO GET THE FOX BUSINESS APP FOX Business has reached out to Domino’s Pizza for comment but did not hear back before publication. Source: Read Full Article
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