The SEC has charged Jason Satsky and Gavin Wolfe with insider trading in connection with an $8.1 billion acquisition of South Jersey Industries. Satsky allegedly shared confidential information with Wolfe about the pending deal in late 2021. Wolfe bought more than 2.2 million shares worth roughly $53 million in November and December 2021 and made an $18.5 million profit after the February 24, 2022, announcement that the stock would be taken private at $36 per share. The stock rose about 40 percent. Both men deny the allegations and say they acted properly. Bank of America terminated Satsky in March 2025 following an internal review, and the U.S. Attorney's office in Manhattan has been examining the case since spring 2024.