Jasper

Defendant-Appellant Carl W. Jasper is the former Chief Financial Officer (CFO) of Maxim Integrated Products, Inc., a publicly-traded semiconductor company based in Silicon Valley. Following revelations that the company had issued backdated stock options without properly expensing them, the SEC instituted this civil enforcement action against Jasper, alleging that Jasper violated various provisions of the securities laws.

The case proceeded to a seven-day jury trial; the jury found in favor of the SEC on most counts. As a result, the district court permanently enjoined Jasper from future violations of the same provisions of the securities laws, barred him from serving as an officer or director of a publicly traded company for two years, and imposed a civil penalty of $360,000. The court also ordered, pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (“SOX 304”), codified at 15 U.S.C. § 7243 , that Jasper reimburse Maxim for about $1.8 million in bonuses and profits from the sale of Maxim stock that Jasper received during the period that he certified Maxim’s false financial statements.

Jasper appeals on three grounds. First, he contends that the district court…