SEC Says FDA Chemist Made $3.6M In Insider Trading

Law360, New York (March 29, 2011, 7:32 PM EDT) -- The U.S. Securities and Exchange Commission accused a Food and Drug Administration chemist in Maryland federal court on Tuesday of using internal information about upcoming drug approval decisions to make trades worth more than $3.6 million.

The SEC said in a U.S. District Court for the District of Maryland complaint that Cheng Yi Liang, who works at the FDA's Center for Drug Evaluation and Research, regularly looked up information about a drug's pending application and then traded in the drug company's securities prior to any public...
To view the full article, register now.