EXECUTIVE GAVE STOCK SECRETS FOR $25K KICKBACK!

SEC v. Doron A. Tavlin, Afshin Farahan, David Gantman — U.S. Securities and Exchange Commission Litigation Release No. 26367, dated August 6, 2025.

The SEC secured a final judgment against Doron Tavlin, a former executive of Mazor Robotics, for insider trading. Tavlin tipped off a friend about Medtronic's impending acquisition of Mazor, leading to profitable trades by his friend and another associate. Tavlin was permanently barred from violating securities laws and ordered to pay disgorgement and interest.

In Plain English

Imagine someone knows a big secret: a company is about to be bought by another, much larger company. This secret is worth a lot of money if you can trade stocks based on it before everyone else knows. Doron Tavlin, who worked for the company being bought, knew this secret. He told his friend, who then told another friend. These friends bought a lot of stock cheaply, and when the news came out, they sold it for a big profit. The person who told them the secret, Doron, got a $25,000 payment for the tip. Now, Doron has been ordered to pay back that $25,000, plus some extra money for the delay, and he's banned from being a company leader in the future.

Disclaimer: all facts are drawn from the SEC's own filings; the claims described are allegations unless and until a court rules or the parties settle, and some cases end in dismissal.

How the Alleged Scheme Worked

1. Executive Learns of Acquisition Doron A. Tavlin, while working as an executive at Mazor Robotics Ltd., was involved in confidential discussions about a potential acquisition of his company by Medtronic PLC.
2. Material Nonpublic Information Tavlin possessed material nonpublic information regarding Medtronic's impending acquisition of Mazor, which was not yet announced to the public.
3. Tipping a Friend In August 2018, Tavlin tipped off his close friend, Afshin Farahan, with this sensitive information about the potential acquisition.
4. Further Tipping Afshin Farahan, in turn, shared the material nonpublic information with his friend, David Gantman.
5. Securities Purchases Based on the tipped information, both Farahan and Gantman made multiple purchases of Mazor securities before the acquisition was publicly announced.
6. Profitable Trades Following the September 20, 2018, announcement of Medtronic's acquisition of Mazor, the value of Mazor securities increased, allowing Farahan and Gantman to realize approximately $500,000 in combined trading profits.
7. Kickback Payment As part of the scheme, Farahan paid Tavlin a $25,000 kickback in exchange for the insider information provided.

The Enforcement Action

On July 25, 2025, the SEC obtained a final judgment against Doron A. Tavlin. Tavlin consented to a permanent injunction against violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. He also received an officer and director bar and was ordered to pay disgorgement of $25,000, plus $7,875.47 in prejudgment interest.

Named in this action: Doron A. Tavlin, Afshin Farahan, David Gantman.

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