Ex-Apple Lawyer Stuck With ‘Classical’ Inside Trading Indictment

A former Apple Inc. attorney’s alleged conduct represents “a ‘classical’ case of insider trading,” so his indictment for trading on nonpublic information stands, a New Jersey federal judge said.

Gene Levoff, who worked for Apple from 2008 to 2018, argued that the indictment should be tossed because there’s “no statute that explicitly criminalizes insider trading,” the U.S. District Court for the District of New Jersey said.

But the Securities and Exchange Commission “did promulgate a rule barring classical insider trading,” and Levoff’s “alleged conduct fits squarely within” it, Judge William J. Martini said Wednesday.

Levoff, who earned his ...