They even let him keep $20,000 of the profit before his petty trivial fine. Meanwhile, his buddies who sold the other 118,000 got to keep all of their gains. Who is guilty of FRAUD here- Peter or the SEC?
Kirschner was directed to disgorge $109,400 in ill-gotten gains
Kirschner sold 19,500 of these prematurely-received, post-dividend shares
to unwitting market participants at prices ranging from $5.50 to $7.95 per share, realizing proceeds
of $139,400
According to the complaint, had Kirschner sold the same quantity of shares hours
later, he would have realized gross proceeds of less than $20
Before you criticize a man, walk a mile in his shoes. That way, if he gets angry, he's a mile away and barefoot.