NEW YORK: The Securities and Exchange Commission has filed insider trading charges against the former head of corporate communications at technology company Gerber Scientific.
Robert Goehring was indicted last Monday for buying and selling company stock based on nonpublic information he obtained while preparing press releases and other financial material.
The complaint lists nine instances between July 1998 and April 2000 when Goehring bought and sold stock ahead of company announcements.
It alleges that Goehring, who was also the company's IR contact and reported directly to the CEO, obtained the nonpublic information during meetings with management and in confidential letters from Gerber's subsidiaries.
Goehring earned profits or avoided losses of $94,016, according to the complaint. He is also accused of sharing nonpublic information with a friend who didn't work at Gerber. He has been indicted as well.
Gerber makes manufacturing systems to produce signs, graphics, optical lenses, and apparel.