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Former Senior Apple Lawyer Charged With Insider Trading

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“As a member of the core group of senior Apple insiders entrusted with material nonpublic information, and as an attorney with a sophisticated understanding of securities and corporate law, Levoff knew, or was reckless in not knowing, that he had a duty of trust and confidence to the company and its shareholders,” according to the complaint filed in United States District Court for the District of New Jersey.

The S.E.C. said he was placed on leave in July and fired in September.

“After being contacted by authorities last summer, we conducted a thorough investigation with the help of outside legal experts, which resulted in termination,” an Apple spokesman, Josh Rosenstock, said in a statement.

In an indication of how senior Mr. Levoff was at the company, he was part of Apple’s disclosure committee — a group that helps Tim Cook, Apple’s chief executive, and Luca Maestri, the chief financial officer, determine whether the company is meeting its responsibilities for providing accurate and timely disclosures to investors.

At the time of his departure, Mr. Levoff reported to Katherine Adams, Apple’s general counsel. She replaced Bruce Sewell, who served as the company’s top lawyer for eight years until he stepped down in 2017.

Mr. Levoff was responsible for ensuring compliance with Apple’s insider trading rules, including sending emails to individuals who were subject to trading restrictions around Apple’s quarterly earnings announcements. Apple’s insider trading policy said any individual with material, nonpublic information about the company was not allowed to trade the stock until 60 hours after that information had been announced.

The S.E.C. said Mr. Levoff also engaged in insider trading on three other occasions from 2011 to 2012. In each instance, Mr. Levoff received draft news releases and S.E.C. filings. He then bought thousands of shares of Apple stock before the public announcement. Shortly after the stock rose on the positive earnings announcements, Mr. Levoff sold the shares. He made approximately $245,000 in profits on those insider trading transactions.

Before those transactions, Mr. Levoff sent emails to company employees alerting them that a blackout period was starting and that they were prohibited from trading Apple securities.

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More groups join in support of women in STEM program at Carleton

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OTTAWA — Major companies and government partners are lending their support to Carleton University’s newly established Women in Engineering and Information Technology Program.

The list of supporters includes Mississauga-based construction company EllisDon.

The latest to announce their support for the program also include BlackBerry QNX, CIRA (Canadian Internet Registration Authority), Ericsson, Nokia, Solace, Trend Micro, the Canadian Nuclear Safety Commission, CGI, Gastops, Leonardo DRS, Lockheed Martin Canada, Amdocs and Ross.

The program is officially set to launch this September.

It is being led by Carleton’s Faculty of Engineering and Design with the goal of establishing meaningful partnerships in support of women in STEM.  

The program will host events for women students to build relationships with industry and government partners, create mentorship opportunities, as well as establish a special fund to support allies at Carleton in meeting equity, diversity and inclusion goals.

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VR tech to revolutionize commercial driver training

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Serious Labs seems to have found a way from tragedy to triumph? The Edmonton-based firm designs and manufactures virtual reality simulators to standardize training programs for operators of heavy equipment such as aerial lifts, cranes, forklifts, and commercial trucks. These simulators enable operators to acquire and practice operational skills for the job safety and efficiency in a risk-free virtual environment so they can work more safely and efficiently.

The 2018 Humboldt bus catastrophe sent shock waves across the industry. The tragedy highlighted the need for standardized commercial driver training and testing. It also contributed to the acceleration of the federal government implementing a Mandatory Entry-Level Training (MELT) program for Class 1 & 2 drivers currently being adopted across Canada. MELT is a much more rigorous standard that promotes safety and in-depth practice for new drivers.

Enter Serious Labs. By proposing to harness the power of virtual reality (VR), Serious Labs has earned considerable funding to develop a VR commercial truck driving simulator.

The Government of Alberta has awarded $1 million, and Emissions Reduction Alberta (ERA) is contributing an additional $2 million for the simulator development. Commercial deployment is estimated to begin in 2024, with the simulator to be made available across Canada and the United States, and with the Alberta Motor Transport Association (AMTA) helping to provide simulator tests to certify that driver trainees have attained the appropriate standard. West Tech Report recently took the opportunity to chat with Serious Labs CEO, Jim Colvin, about the environmental and labour benefits of VR Driver Training, as well as the unique way that Colvin went from angel investor to CEO of the company.

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Next-Gen Tech Company Pops on New Cover Detection Test

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While the world comes out of the initial stages of the pandemic, COVID-19 will be continue to be a threat for some time to come. Companies, such as Zen Graphene, are working on ways to detect the virus and its variants and are on the forefronts of technology.

Nanotechnology firm ZEN Graphene Solutions Ltd. (TSX-Venture:ZEN) (OTCPK:ZENYF), is working to develop technology to help detect the COVID-19 virus and its variants. The firm signed an exclusive agreement with McMaster University to be the global commercializing partner for a newly developed aptamer-based, SARS-CoV-2 rapid detection technology.

This patent-pending technology uses clinical samples from patients and was funded by the Canadian Institutes of Health Research. The test is considered extremely accurate, scalable, saliva-based, affordable, and provides results in under 10 minutes.

Shares were trading up over 5% to $3.07 in early afternoon trade.

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