Seattle Genetics Insider's Brother Gets 18 Months

Law360, New York (October 11, 2011, 5:07 PM EDT) -- The brother of a former Seattle Genetics Inc. employee was sentenced to 18 months in prison Friday in Washington state, after pleading guilty to trading on insider information he received from his brother about a new Seattle Genetics cancer drug.

Zishen Fan pled guilty in July to the securities fraud charge, admitting that his now-deceased brother Zizhong Fan provided him with nonpublic information that he used to buy more than 500,000 shares of Seattle Genetics stock and stock options in 2010.

At sentencing, Chief U.S. District...
To view the full article, register now.