The SEC's Lessons For Medical Consultants

Law360, New York (December 1, 2010, 10:37 AM EST) -- On Nov. 2, 2010, the U.S. Securities and Exchange Commission brought an action for insider trading against a physician involved in a biotech company’s investigational drug clinical trial alleging that he disclosed confidential information about the trial to a hedge fund portfolio manager who traded in the company’s securities. The U.S. Department of Justice also initiated parallel criminal proceedings for securities fraud based on the same allegations.

The charges by the agencies reflect a continued campaign by the SEC and other federal law enforcement agencies against...
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