Couple Fined $4M In Biotech Insider Trading Scheme

Law360, New York (February 12, 2010, 1:23 PM EST) -- A federal judge ordered a husband and wife accused of insider trading in a biotechnology company's stock to fork over more than $4 million after the couple refused to testify or comply with discovery requests, ruling that their behavior unduly complicated the case and burdened securities regulators.

Judge William H. Pauley III of the U.S. District Court for the Southern District of New York handed down the fines Thursday, saying Shane Suman and his wife, Monie Rahman, had “generally obstructed the progress” of the case by...
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