Former Domino’s accountant must pay $1.9M for insider trading
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A former Domino’s Pizza Inc. accountant has agreed to pay a $1.9 million penalty for insider trading in the company’s stock, the U.S. Securities and Exchange Commission said Thursday.
Bernard L. Compton worked for the Ann Arbor, Michigan-based pizza chain from 2005 to 2021, according to the SEC’s complaint in the case.
The complaint alleged that Mr. Compton used confidential financial data he obtained through his job at Domino’s corporate office to trade ahead of 12 of the company’s earnings announcements between 2015 and 2020.
The SEC also alleged that he spread these trades across seven different brokerage accounts belonging to himself and various members of his family, which led to illicit profits of more than $960,000.
He was charged with violating antifraud provisions of the Securities and Exchange Act of 1934, and an SEC regulation.
Compton consented to a court order, issued Tuesday, that directs him to pay the $1.9 million civil penalty, without admitting or denying the allegations, the SEC said.
He also agreed to be suspended from appearing and practicing before the SEC as an accountant.
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