Mercer Consultant Pleads Guilty To Insider Trading

Law360, New York (March 19, 2012, 7:38 PM EDT) -- Former Mercer LLC consultant Scott Allen pled guilty Monday to passing confidential tips on two drug company mergers, including the Takeda Pharmaceutical Co. acquisition of Millennium Pharmaceuticals Inc, to a friend who made $1.1 million using the information.

Allen, 45, admitted before U.S. District Judge Deborah Batts that he tipped friend John Bennett, a film producer, about the Takeda takeover, which took place in 2008, and Dainippon Sumitomo Pharma Co. Ltd.'s acquisition of Sepracor Inc. in September 2009.

Allen learned the information through his job at...
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