Biotech Exec Settles Over Trades Ahead Of Novartis Deal

Law360, New York (August 20, 2012, 7:15 PM EDT) -- A former manager at Array BioPharma Inc., a Colorado-based developer of cancer drugs, agreed Monday to settle allegations brought by the U.S. Securities and Exchange Commission that he illegally traded on insider information about a pending partnership agreement with Swiss drugmaker Novartis AG.

In a civil complaint, the SEC charged James Lieberman, formerly manager of environmental health and safety at Array, with one count of securities fraud, alleging he bought Array shares within minutes of receiving an email about the Novartis deal from his supervisor....
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