Family Charged In $3.7M Insider-Trading Scheme

Law360, New York (February 8, 2007, 12:00 AM EST) -- Federal regulators on Thursday charged seven individuals, including a New Jersey father and his three sons, for orchestrating a “brazen scheme of serial insider-trading,” which involved stealing information on FDA drug approvals.

The U.S. Securities and Exchange Commission’s complaint, filed in the U.S. District Court for the Southern District of New York, charged the group with violations of the anti-fraud provisions of federal securities laws.

"This case is particularly troubling, not just because this appears to have been a 'family business' built on insider-trading, but also...
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