Seattle Genetics Insider's Brother Pleads Guilty

Law360, New York (July 12, 2011, 9:07 PM EDT) -- A former Seattle Genetics employee's brother pled guilty Tuesday in Washington to securities fraud in a case accusing him of using information from his brother about a new drug to purchase shares and stock options before the development was announced to the public.

Zishen Fan admitted his now-deceased brother, Zizhong Fan, provided him with nonpublic information that he used to purchase more than 500,000 shares of Seattle Genetics stock and stock options in 2010, according to a statement from the U.S. Attorney's Office.

Zizhong Fan was...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.