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Chewy executive conducted insider trading over pet insurance partnership, SEC says

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2024.09.27 15:16

(Reuters) – A former Chewy (NYSE:) executive will pay $35,275 to settle U.S. Securities and Exchange Commission insider trading charges dating from 2021, the regulator said on Friday.

© Reuters. FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo

Austin Kauh, who had been Chewy’s director of Treasury, allegedly obtained material nonpublic information about partnership negotiations between Chewy and pet insurance provider Trupanion (NASDAQ:) in 2021.

During the negotiation period, Kauh purchased Trupanion shares resulting in gains of $16,437 across two accounts after the partnership was announced, the SEC said.

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