The regulator claimed Mr Loudon heard several of his wife’s conversations about BP’s takeover of TravelCenters and bought shares in the firm.
BP has declined to comment.
BP has declined to comment.
His wife – a mergers and acquisitions manager at BP – worked on the oil giant’s takeover of TravelCenters. The SEC said Mr Loudon purchased 46,450 shares of TravelCenters stock, without his wife’s knowledge, before the deal was made public in February last year.
Following the announcement, TravelCenters share price rose nearly 71% and Mr Loudon allegedly immediately sold all of his newly-bought shares for a profit, the SEC said.
In a complaint by the regulator, during deal negotiations between TravelCenters and BP in 2022, Mr Loudon and his wife worked in home offices within 20 feet of each other.
“As a result, they frequently overheard and witnessed each other’s work-related conversations and video conferences.” She also worked on the deal when the couple stayed in a “small Airbnb” in Rome, said the complaint.
BP has declined to comment.
The regulator claimed Mr Loudon heard several of his wife’s conversations about BP’s takeover of TravelCenters and bought shares in the firm.
His wife – a mergers and acquisitions manager at BP – worked on the oil giant’s takeover of TravelCenters. The SEC said Mr Loudon purchased 46,450 shares of TravelCenters stock, without his wife’s knowledge, before the deal was made public in February last year.
BP has declined to comment.
BP has declined to comment.
His wife – a mergers and acquisitions manager at BP – worked on the oil giant’s takeover of TravelCenters. The SEC said Mr Loudon purchased 46,450 shares of TravelCenters stock, without his wife’s knowledge, before the deal was made public in February last year.
Following the announcement, TravelCenters share price rose nearly 71% and Mr Loudon allegedly immediately sold all of his newly-bought shares for a profit, the SEC said.
In a complaint by the regulator, during deal negotiations between TravelCenters and BP in 2022, Mr Loudon and his wife worked in home offices within 20 feet of each other.
“As a result, they frequently overheard and witnessed each other’s work-related conversations and video conferences.” She also worked on the deal when the couple stayed in a “small Airbnb” in Rome, said the complaint.
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