Ashish Aggarwal Barred by SEC Following Civil Suit

Ashish Aggarwal (CRD #: 5561485), a broker formerly registered with J.P. Morgan Securities, allegedly engaged in insider trading, according to his BrokerCheck record, accessed on April 3, 2025. Read on to learn more about his alleged conduct as a broker.

Bar by SEC

On February 5, 2025, the Securities and Exchange Commission barred Ashish Aggarwal following the entering of final judgment against him in a civil action filed by the SEC.

The SEC alleged in its complaint that Ashish Aggarwal engaged in insider trading in the shares of PLX Technology, Inc. (PLX) and ExactTarget, Inc. in 2012 and 2013, respectively. Ashish Aggarwal allegedly worked as an investment banking analyst for J.P. Morgan Securities while the firm played an advisory role in two tender offer transactions by these companies.

One transaction allegedly involved salesforce.com purchasing outstanding shares of ExactTarget, and the other allegedly involved Integrated Device Technology, Inc. purchasing outstanding shares of PLX.

During this time, Ashish Aggarwal allegedly received illicit profits by recommending ExactTarget to a friend.

He allegedly also provided another friend with material non-public information about both tender offer transactions, and this individual allegedly passed that information on to a colleague. Both individuals allegedly used this information to motivate their purchases of PLX and ExactTarget and obtain their own illicit profits.

In the judgment entered against him, Ashish Aggarwal was enjoined from future violations of Sections 10(b) and 14(e) of the Securities Exchange Act of 1934 and Rules 10b-5 and 14e-3 thereunder.

Securities Exchange Act of 1934

Section 10(b) of the Securities Exchange Act of 1934 forbids the use of manipulative or deceptive devices in relation to the purchase or sale of securities. Rule 10b-5 extends this to include fraudulent schemes, untrue statements and omissions of fact.

Section 14(e) prohibits omission of material facts, the making of untrue statements, and the use of fraudulent or manipulative practices with regard to tender offers or other solicitation of security holders.

Rule 14e-3 states that possessing material nonpublic information relating to a tender offer from an insider (e.g., the issuer or one of their employees) and taking steps to commence that offer constitutes fraud, deception, or manipulation as prohibited by Section 14(e).

Sanctions

The SEC barred Ashish Aggarwal from participating in penny stock offerings and from associating with any of the following:

• Brokers
• Dealers
• Investment advisers
• Municipal securities dealers
• Municipal advisors
• Transfer agents
• Nationally recognized statistical rating organizations (NRSROs)

Both bars took effect on February 5, 2025.

Background Information

Ashish Aggarwal has passed the following exams:

• Investment Banking Registered Representative Examination – Series 79
• Uniform Securities Agent State Law Examination – Series 63

He previously worked for J.P. Morgan Securities (CRD#:79).

Kurta Law Can Help

If you worked with Ashish Aggarwal and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.