DOJ, SEC Reach Deal In Drug Maker's Insider-Trading

Law360, New York (March 9, 2007, 12:00 AM EST) -- Federal prosecutors and securities regulators have wrapped up parallel cases against a former executive at bankrupt generic drug maker Able Laboratories Inc., after accusing him of insider-trading in a scheme to conceal quality control deficiencies.

Former Able vice president Shashikant C. Shah pled guilty on March 8 to charges in a case filed by the U.S. Department of Justice, while simultaneously consenting to a deal with the U.S. Securities and Exchange Commission in New Jersey District Court.

Shah was Able's vice president of quality control, quality...
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