The SEC announced insider trading charges against a company’s executive chair for his alleged unlawful adoption of two Rule 10b5-1 plans and associated stock sales while in possession of negative material inside information involving the company’s relationship with its largest customer. The customer ultimately terminated its contract with the company, prompting a decline of more than 44% in the company’s stock price. According to the release, the executive chair avoided more than $12.7 million in losses as a result of his unlawful conduct. The DOJ announced parallel criminal charges.