Securities Law News

Chicago Man Who Traded on Ulta Insider Tip Settles With SEC (1)

Sept. 5, 2019, 7:21 PMUpdated: Sept. 5, 2019, 8:43 PM

A high-ranking Ulta Beauty Inc. employee’s boyfriend tipped his childhood friend to buy stock worth $1.5 million ahead of two positive earnings calls, the SEC said Sept. 5 in Illinois federal court.

Geoffrey L. Homer’s girlfriend previously asked him to keep information about her work confidential, but he twice tipped Keith G. Daubenspeck to purchase Ulta stock before earnings information became public, according to a Securities and Exchange Commission complaint filed in the U.S. District Court for the Northern District of Illinois. Daubenspeck agreed to pay the SEC around $240,500 in disgorgement, interest, and fines to end his role in...

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