SEC charges Green Mountain employee with insider trading


The U.S. Securities and Exchange Commission said it had filed charges against a former employee of Green Mountain Coffee Roasters for insider trading that netted $7 million in profit.

The regulator said the employee Chad McGinnis and his friend Sergey Pugach obtained quarterly earnings data and traded in advance of its public release.

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Green Mountain said it is cooperating fully with the government's investigation and that there has been no allegation of wrongdoing on behalf of the company.

McGinnis was a manager-level member of the its IT department and has been terminated for violating its insider trading policy, the company said in a statement.