{"id":258,"date":"2024-06-27T10:06:49","date_gmt":"2024-06-27T07:06:49","guid":{"rendered":"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/27\/former-penn-interactive-developer-accused-of-insider-trading\/"},"modified":"2024-06-27T10:06:49","modified_gmt":"2024-06-27T07:06:49","slug":"former-penn-interactive-developer-accused-of-insider-trading","status":"publish","type":"post","link":"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/27\/former-penn-interactive-developer-accused-of-insider-trading\/","title":{"rendered":"Former Penn Interactive Developer Accused of Insider Trading"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/k7ZvJvi7cn4\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The **U.S. Securities and Exchange Commission** (SEC) has **accused** David Roda, a former software developer at Penn Interactive Ventures, of **illegally trading on inside information** related to the **takeover** of Score Media and Gaming.<\/p>\n<p>The SEC&#8217;s **legal action**, filed in the U.S. District Court for the Eastern District of Pennsylvania, **claims** that Roda, while working at Penn Interactive Ventures, **obtained private information** about Penn National Gaming&#8217;s **purchase** of the Canadian firm theScore and was **instructed** not to use the information for trading.<\/p>\n<p>Roda **broke his obligations** and **bought** 500 out-of-the-money call options on Score Media in the weeks and days **before** the acquisition announcement. The **takeover** was ultimately **finalized** last October, after it was first **revealed** in August.<\/p>\n<p>Roda also **informed** his friend, Andrew Larkin, about the deal, who then **bought** 375 shares of Score Media stock. The SEC has also **charged** Larkin in connection with the **scheme**. <\/p>\n<p>As per the U.S. Securities and Exchange Commission (SEC), the share price of Score Media climbed dramatically by nearly 80% after Penn National and Score Media publicly declared their agreement.  Subsequently, Roda and Larkin sold their holdings, generating a profit of $560,762 (460,873 GBP\/538,199 EUR) and $5,602 respectively.<\/p>\n<p>The SEC claims that Roda and Larkin breached the anti-fraud regulations of the securities laws.<\/p>\n<p>Roda consented to a permanent ban from violating these provisions and agreed to pay restitution, pre-judgment interest, and a civil penalty, the sum of which will be determined by the court at a later time.<\/p>\n<p>Larkin neither acknowledged nor denied the accusations but agreed to a permanent ban from violating the anti-fraud regulations of the securities laws and to pay over $11,000 in restitution and penalties.<\/p>\n<p>Furthermore, the U.S. Attorney&#8217;s Office for the Eastern District of Pennsylvania announced criminal charges against Roda.<\/p>\n<p>&#8220;As we claim, Roda was entrusted by his employer with significant, market-shifting inside information, and he violated that trust by using that information to trade and by informing his friend so they could both benefit,&#8221; stated Scott Thompson, Acting Regional Director of the SEC&#8217;s Philadelphia Regional Office.<\/p>\n<p>&#8220;When employees like Roda misuse confidential information and trade on it, it weakens market confidence. The SEC is dedicated to finding, investigating, and prosecuting those who participate in insider trading.&#8221;<\/p>\n<p>Sign up for the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The **U.S. Securities and Exchange Commission** (SEC) has **accused** David Roda, a former software developer at Penn Interactive Ventures, of **illegally trading on inside information** related to the **takeover** of Score Media and Gaming. The SEC&#8217;s **legal action**, filed in the U.S. District Court for the Eastern District of Pennsylvania, **claims** that Roda, while working [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC Accuses Former Developer of Insider Trading<\/title>\n<meta name=\"description\" content=\"A former Penn Interactive Ventures developer is accused of illegally trading on inside information related to a company takeover.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/27\/former-penn-interactive-developer-accused-of-insider-trading\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Former Penn Interactive Developer Accused of Insider Trading\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"A former Penn Interactive Ventures developer is accused of illegally trading on inside information related to a company takeover.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/27\/former-penn-interactive-developer-accused-of-insider-trading\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Where Casino Enthusiasts Gather for Secure &amp; Licensed Fun\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T07:06:49+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/27\/former-penn-interactive-developer-accused-of-insider-trading\/\",\"url\":\"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/27\/former-penn-interactive-developer-accused-of-insider-trading\/\",\"name\":\"SEC Accuses Former Developer of Insider Trading\",\"isPartOf\":{\"@id\":\"https:\/\/gossipslotsnodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-27T07:06:49+00:00\",\"dateModified\":\"2024-06-27T07:06:49+00:00\",\"author\":{\"@id\":\"https:\/\/gossipslotsnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"A former Penn Interactive Ventures developer is accused of illegally trading on inside information related to a company takeover.\",\"breadcrumb\":{\"@id\":\"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/27\/former-penn-interactive-developer-accused-of-insider-trading\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/27\/former-penn-interactive-developer-accused-of-insider-trading\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/27\/former-penn-interactive-developer-accused-of-insider-trading\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/gossipslotsnodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Former Penn Interactive Developer Accused of Insider Trading\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gossipslotsnodepositbonus.icu\/#website\",\"url\":\"https:\/\/gossipslotsnodepositbonus.icu\/\",\"name\":\"Where Casino Enthusiasts Gather for Secure &amp; Licensed Fun\",\"description\":\"Explore the latest trends and opportunities in online gambling with our up-to-date news, honest reviews, and expert articles. 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