SEC Finalizes Doximity Insider Trading Case Against Paul Jorgensen
SEC finalizes Paul Jorgensen insider trading case, ordering $3.02 million in disgorgement and interest, with $490,077.54 still payable after forfeiture.
Summary
On September 10, 2026, the U.S. District Court for the Southern District of New York entered a final consent judgment against Paul W. Jorgensen, former Chief Revenue Officer of Doximity, Inc., a digital platform provider for U.S. medical professionals. SEC Litigation Release No. 26635 concerns Securities and Exchange Commission v. Paul W. Jorgensen, No. 1:26-cv-02115, filed March 16, 2026. The complaint alleged Jorgensen used material nonpublic information before negative earnings announcements in August 2022 and August 2023, avoiding losses and realizing profits totaling $2,532,775.
A March 18, 2026 judgment permanently enjoined Jorgensen from violating Exchange Act Sections 10(b) and 16(a) and Rules 10b-5 and 16a-3, and permanently barred him from serving as a public company officer or director. The final judgment imposed $2,532,775.00 in disgorgement and $490,077.54 in prejudgment interest, totaling $3,022,852.54. The court credited the $2,532,775.00 forfeiture paid in the parallel criminal case, leaving $490,077.54 payable to the SEC. Jorgensen pleaded guilty on January 9, 2026, and on May 21 received 26 months in prison, 24 months of supervised release and the forfeiture order.
Randall Friedland, Ann Rosenfield, Patrick McCluskey and Kevin Gershfeld conducted the SEC investigation under Brian Quinn and Michael Brennan. Christopher Carney led the litigation under James Carlson, with assistance from the U.S. Attorney’s Office for the Southern District of New York, Federal Bureau of Investigation and Financial Industry Regulatory Authority.
Positives
- The September 10, 2026 final consent judgment resolves the SEC’s civil claims and fixes Jorgensen’s remaining payment at $490,077.54.
- The permanent officer and director bar prevents Jorgensen from holding leadership positions at public companies.
- The SEC coordinated with federal prosecutors, the FBI and FINRA across the civil and criminal proceedings.
Risks & concerns
- The SEC alleged Doximity’s former Chief Revenue Officer traded before two negative earnings announcements in August 2022 and August 2023.
- Jorgensen allegedly avoided losses and realized profits totaling $2,532,775 through material nonpublic information.
- The final judgment imposed $3,022,852.54 in disgorgement and prejudgment interest before crediting criminal forfeiture.
- The criminal case resulted in 26 months of imprisonment, 24 months of supervised release and $2,532,775 in forfeiture.
