A former senior executive at Doximity, the online networking platform for medical professionals, was sentenced to more than two years in federal prison for using confidential company information to execute a multimillion-dollar insider trading scheme, federal prosecutors in New York announced.
Paul Jorgensen, 53, of Charlotte, North Carolina, the former Chief Revenue Officer of Doximity, was sentenced May 21, 2026, by U.S. District Judge Katherine Polk Failla to 26 months in prison for securities fraud, according to the U.S. Attorney’s Office for the Southern District of New York. He was also ordered to forfeit $2,532,775.52 and serve two years of supervised release.
Prosecutors said Jorgensen exploited his access to sensitive financial data at Doximity — which trades on the New York Stock Exchange under the ticker symbol “DOCS” — to trade in company stock and options ahead of quarterly earnings calls, netting more than $2.5 million in illegal profits.
“Insider trading destroys faith in the fairness and integrity of our markets,” U.S. Attorney Jay Clayton said in announcing the sentence. “Executives who trade on their company’s confidential information will be prosecuted.”
According to court documents and statements made in public proceedings, the scheme involved trades made in 2022 and 2023.
In July 2022, Jorgensen — then newly appointed as Chief Revenue Officer — learned that the company’s add-on sales, known as “upsells,” had declined and attended a board meeting where the company’s negative outlook was discussed. Despite texting a close family member that selling his shares would be wrong because he held “non-public confidential info,” prosecutors said Jorgensen reversed course days later after learning he had been reassigned to a sales role. He secretly sold 61,162 shares held in a personal brokerage account outside of company-monitored accounts, avoiding losses of more than $300,000 when Doximity’s stock fell roughly 7% following its Aug. 4, 2022, earnings call.
The second set of trades came in 2023, when Jorgensen learned both that upsells had again declined and that he was being terminated as part of a broader round of layoffs to be disclosed on the upcoming earnings call. Prosecutors said he sold 15,000 shares and 1,300 call options before the call, then purchased 4,700 put options. When Doximity’s share price plunged approximately 23% after the Aug. 8, 2023, earnings announcement, Jorgensen closed his put position and collected nearly $2 million in illicit profits, according to prosecutors.
Jorgensen was terminated from Doximity in August 2023.
The FBI investigated the case, with cooperation from the Securities and Exchange Commission. Assistant U.S. Attorney Alexandra Rothman handled the prosecution through the office’s Securities and Commodities Fraud Task Force.
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