Sunday, April 18, 2021

Former SeaWorld lawyer pleads guilty to insider trading


A former attorney for SeaWorld Entertainment Inc on Tuesday pleaded guilty to insider trading, the U.S. Justice Department said.

As part of the guilty plea, Paul Powers admitted to using non-public information on the company’s financial performance that he received when he was associate general counsel and assistant secretary in 2018 to purchase and subsequently sell shares in SeaWorld.

SeaWorld said in a statement: “After being contacted by authorities late last year, the Company conducted an investigation, which resulted in termination. The Company cooperated fully with the authorities in their investigation.”

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A sentencing date has not yet been set, the Justice Department said.

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