Ex-InterMune Official Settles SEC Insider Trading Suit

Law360, New York (June 7, 2013, 4:36 PM EDT) -- Former InterMune Inc. official Bruce Tomlinson has agreed to pay $616,000 to end a U.S. Securities and Exchange Commission insider trading suit alleging he tipped off a friend about the biotech firm’s drug-marketing efforts in the European Union, the agency said Friday.

The SEC launched a suit against Tomlinson in California federal court on Thursday alleging he used his role as InterMune’s vice president of finance, principal accounting officer and controller to pass nonpublic information to a friend and former business associate named Michael Sarkesian. The...
To view the full article, register now.