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Federal Contractor Misconduct Database (FCMD)
SEC v. Seilhan (Insider Trading)
Keith Seilhan, a former BP crisis manager who coordinated the company’s cleanup of the 2010 Deepwater Horizon oil spill, was charged with insider trading by the Securities and Exchange Commission (SEC). The SEC alleged that, in late April 2010, Seilhan used confidential, non-public information about the magnitude of the spill to sell $1 million in company stock shortly before its value fell nearly 50 percent over the following weeks. At the same time BP publicly reported estimated oil-flow rates from the incident, Seilhan allegedly learned from his role as response coordinator that the damage, and thus BP’s potential liability and financial exposure, was far worse. Without admitting or denying the charges, Seilhan agreed to settle the case by returning $105,409 in alleged improper gains, paying a civil penalty of the same amount, and paying $13,300 in prejudgment interest.
- Misconduct Type
- Securities
- Enforcement Agency
- SEC
- Contracting Party
- None
- Court Type
- Civil
- Disposition
- Settlement
- Date of Settlement Announcement
- 4/17/2014
| Contractors Involved | Penalty |
|---|---|
| Total | |
| BP P.L.C. | $224,118 |
| Further Information | Released |
|---|---|
| SEC Complaint | 4/17/2014 |
| SEC Press Release | 4/17/2014 |
See also:
-
2010 Gulf of Mexico Oil Spill – Pointe-au-Chien Tribe Lawsuit
BP P.L.C., Halliburton -
April 2010 Gulf of Mexico Oil Spill (BSEE Citations)
BP P.L.C. -
April 2010 Gulf of Mexico Oil Spill (BSEE Citations)
Halliburton -
April 2010 Gulf of Mexico Oil Spill – Federal Contracting Suspension
BP P.L.C. -
April 2010 Gulf of Mexico Oil Spill – Federal Criminal Settlement
BP P.L.C. -
April 2010 Gulf of Mexico Oil Spill — Federal, State, and Local Civil Settlement
BP P.L.C. -
April 2010 Gulf of Mexico Oil Spill (Fishermen/Shrimpers Lawsuits)
Halliburton -
April 2010 Gulf of Mexico Oil Spill (Fishermen/Shrimpers Lawsuits)
BP P.L.C. -
April 2010 Gulf of Mexico Oil Spill — Gulf of Mexico Early Restoration
BP P.L.C. -
April 2010 Gulf of Mexico Oil Spill (Halliburton Lawsuit)
BP P.L.C. -
April 2010 Gulf of Mexico Oil Spill – Halliburton Settlement
Halliburton -
April 2010 Gulf of Mexico Oil Spill – Maryland AG Lawsuit
BP P.L.C. -
April 2010 Gulf of Mexico Oil Spill (Mexican Lawsuits)
Halliburton -
April 2010 Gulf of Mexico Oil Spill (Mexican Lawsuits)
BP P.L.C. -
April 2010 Gulf of Mexico Oil Spill – Private Economic Loss and Medical Claims Settlement
BP P.L.C. -
April 2010 Gulf of Mexico Oil Spill (Securities Litigation)
BP P.L.C. -
April 2010 Gulf of Mexico Oil Spill Shareholder Lawsuit
BP P.L.C. -
April 2010 Oil Rig Explosion Lawsuits
Halliburton -
April 2010 Oil Rig Explosion Lawsuits
BP P.L.C. -
Bayona Corp. v. BP et al. (April 2010 Gulf of Mexico Oil Spill)
Halliburton -
Bayona Corp. v. BP et al. (April 2010 Gulf of Mexico Oil Spill)
BP P.L.C. -
Bon Secour Fisheries et al. v. Halliburton (April 2010 Gulf of Mexico Oil Spill)
Halliburton -
Carnival v. BP et al. (April 2010 Gulf of Mexico Oil Spill)
BP P.L.C. -
Carnival v. BP et al. (April 2010 Gulf of Mexico Oil Spill)
Halliburton -
Cochran v. BP et al. (April 2010 Oil Rig Explosion)
BP P.L.C. -
Cochran v. BP et al. (April 2010 Oil Rig Explosion)
Halliburton -
Deepwater Horizon Coast Guard/BOEMRE Investigation
BP P.L.C. -
Deepwater Horizon Coast Guard/BOEMRE Investigation
Halliburton -
Destin v. BP et al. (April 2010 Gulf of Mexico Oil Spill)
BP P.L.C. -
Destin v. BP et al. (April 2010 Gulf of Mexico Oil Spill)
Halliburton -
Destruction of Evidence Relating to Deepwater Horizon Incident
Halliburton -
Faris v. Transocean et al. (April 2010 Gulf of Mexico Oil Spill)
Halliburton -
Faris v. Transocean et al. (April 2010 Gulf of Mexico Oil Spill)
BP P.L.C. -
Hogan v. BP, et al. (Exposure to Corexit)
BP P.L.C. -
Hogan v. BP, et al. (Exposure to Corexit)
Halliburton -
Pappas v. Transocean et al. (April 2010 Gulf of Mexico Oil Spill)
BP P.L.C. -
Pappas v. Transocean et al. (April 2010 Gulf of Mexico Oil Spill)
Halliburton -
Roshto v. Transocean Ltd (April 2010 Oil Rig Explosion)
BP P.L.C. -
Roshto v. Transocean Ltd (April 2010 Oil Rig Explosion)
Halliburton -
St. Joe Co. v. Halliburton (April 2010 Gulf of Mexico Oil Spill)
Halliburton -
U.S. v. Badalamenti (Destruction of Evidence)
Halliburton -
U.S. v. Mix (Obstruction of Justice in April 2010 Gulf of Mexico Oil Spill)
BP P.L.C. -
Warner v. Lesar, et al. (Shareholder Lawsuit)
Halliburton
