Finance Director Pleads Guilty To Insider Trading
Monday, November 9, 2026 - Jesse Mitchell Admits to Illegal Trading Based on Material Nonpublic Information Obtained Through His Employment at The Trade Desk
United States Attorney for the Southern District of New York, Jamie McDonald, announced today that JESSE MITCHELL, a former finance director at The Trade Desk (“TDD”), pled guilty to securities fraud in connection with an insider trading scheme in which MITCHELL traded on misappropriated material nonpublic information ahead of public earnings announcements by his then-employer, TTD. As part of his plea, MITCHELL agreed to forfeit $338,058.56 in proceeds from his illegal scheme. MITCHELL pled guilty today before U.S. District Judge Jennifer H. Rearden.
“Jesse Mitchell misused his employer’s confidential information for his personal benefit,” said U.S. Attorney Jamie McDonald. “As he has now admitted, Mitchell repeatedly traded in advance of TDD’s earnings announcements, pocketing hundreds of thousands of dollars in illicit profits. As Mitchell’s conviction demonstrates, finance professionals should think again about misusing nonpublic material information—the risk isn’t worth the outcome.”
As alleged in the Indictment and other public filings in this case:
Around June 2024, MITCHELL began working at TTD, a publicly-traded multinational technology company, as a Senior Director in TTD’s financial planning and analysis team. In that role, MITCHELL had access to TTD’s confidential financial information and results, including revenue and earnings results and other financial metrics, before they were publicly disclosed. By virtue of his employment, MITCHELL owed a duty of trust and confidence to TTD and was prohibited from misusing or disclosing TTD’s confidential information for personal gain. MITCHELL was also prohibited by company policy from trading in any security while in possession of material nonpublic information relating to that security; trading in TTD securities during quarterly “blackout” periods preceding earnings announcements; and trading TTD options, including put or call options.
In August 2024, TTD published financial results for the second quarter of 2024 that exceeded its previously disclosed revenue estimate. Following the announcement, TTD’s stock price increased approximately 12%. During a trading blackout period in advance of TTD’s earnings announcement, MITCHELL purchased TTD stock. At the time, MITCHELL was aware of TTD’s nonpublic quarterly financial results. After TTD’s public earnings announcement, MITCHELL sold the shares, netting approximately $19,696.11 in profits from his illegal trading.
In February 2025, TTD published financial results for the fourth quarter of 2024 that fell below its previously disclosed revenue estimate. This marked the first time TTD had missed revenue expectations since going public in 2016. Following the announcement, TTD’s stock price dropped approximately 30%. During a trading blackout period in advance of TTD’s earnings announcement, MITCHELL purchased TTD put options. At the time, MITCHELL was aware of TTD’s nonpublic quarterly financial results. After TTD’s public earnings announcement MITCHELL sold all his TTD put options, realizing approximately $318,362.45 in profits from his illegal trading.
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MITCHELL, 48, of Ventura, California, pled guilty to one count of securities fraud under Title 15, which carries a maximum sentence of 20 years in prison.
The maximum potential sentence in this case is prescribed by Congress and provided here for informational purposes only, as any sentencing of the defendant will be determined by the judge. MITCHELL is scheduled to be sentenced by U.S. District Judge Rearden on March 8, 2027.
Mr. McDonald praised the outstanding work of the Federal Bureau of Investigation. Mr. McDonald also expressed appreciation for the assistance of the U.S. Securities and Exchange Commission.
This case is being handled by the Office’s Securities and Commodities Fraud Task Force. Assistant U.S. Attorneys Justin V. Rodriguez and Christy Slavik are in charge of the prosecution.
Contact
Nicholas Biase, Shelby Wratchford
(212) 637-2600
Source: U.S. Attorney's Office, Southern District of New York
