The Trial Balance is CFO.com’s weekly preview of stories, stats and events to help you prepare.
Part 1: After receiving a prison sentence, a networking platform’s former executive must pay up to the SEC.
The former chief revenue officer of a medical industry social networking company has been ordered to pay nearly half a million dollars to the Securities and Exchange Commission as part of a final judgment announced late last week.
Paul Jorgensen, who served as chief revenue officer of Doximity, is expected to pay more than $490,000 to the commission. That’s in addition to more than $2.5 million he’s already been ordered to forfeit as part of a parallel criminal case.
The final judgment, which was entered by consent on Thursday, came about nine months after Jorgensen pleaded guilty to insider trading in the criminal case. Federal prosecutors alleged that in 2022 Jorgensen sold tens of thousands of shares in Doximity “based on material nonpublic information concerning Doximity’s lower-than-expected sales,” the SEC said in a Thursday litigation release. He made such trades ahead of two negative earnings announcements, the release said.
Jorgensen didn’t file required reports with the SEC publicly disclosing his sales of Doximity stock, the SEC alleged in a complaint filed in March.
Then, a year afterwards and days after he was terminated from Doximity, Jorgensen “again traded Doximity securities based on material nonpublic information, in breach of his duty to the Company,” the SEC’s complaint said.
“In this instance, Jorgensen had material nonpublic information concerning lower-than-expected sales, the underperformance of the sales team, and a resulting planned reduction in force,” the document alleged.
In both cases, the SEC said, Jorgensen avoided trading losses. In the latter case, he “made significant trading profits” to the tune of more than $2.2 million, according to the complaint.
Jorgensen first joined Doximity in 2017 and became chief revenue officer in 2022. Doximity, which has been described by some as “LinkedIn for doctors,” went public in 2021.
As part of the parallel criminal case, Jorgensen was sentenced in May to 26 months in prison and ordered to pay a forfeiture of over $2.5 million.
Part 2 — This week
Here’s a list of important U.S. market events slated for the week ahead.
Monday, Sept. 14 — None scheduled
Tuesday, Sept. 15
Wednesday, Sept. 16
- U.S. retail sales, Aug.
- Import price index, Aug.
- Manufacturing and trade inventories and sales, July
- NAHB Housing Market Index, Sept.
- U.S. interest-rate decision
Thursday, Sept. 17
- Initial jobless claims, week ending Sept. 12
- Philadelphia Fed manufacturing survey, Sept.
Friday, Sept. 18
Part 3 — Chart of the week
The volume of companies’ duty payments to the federal government remains far above the pre-2025 norm, according to a recent JPMorganChase Institute analysis. The analysis also found that tariffs have increased for every industry, with the highest tariffs in apparel manufacturing, which had a tariff burden of about 3.3% from April 2023 through March 2024, then saw that rise to 5.2% from April 2025 through March 2026.
