SEC Sues Invitrogen Scientist For Insider Trading

Law360, New York (October 31, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission sued a former scientist at bioteceh company Invitrogen Corp. on Tuesday for allegedly engaging in insider trading based on information he obtained at company meetings.

The SEC's complaint said that Harry Yim, who worked as a staff scientist and later as a manager for Invitrogen until 2006, sold all of the Invitrogen stock he could following a 2004 staff-only meeting.

Staff members were told at the meeting that 60% of the company was in “crisis” and that over half of...
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