ImClone Stockholders Settle Insider Trading Charges

Law360, New York (November 5, 2005, 12:00 AM EST) -- Two ImClone stockholders accused of insider trading have settled with the Securities and Exchange Commission, agreeing to hand over more than $2.7 million reaped in December 2001 using non-public information about the cancer research company.

The SEC sued the pair, Zvi Fuks and Sabina Ben-Yehuda, in March in the U.S. District Court for the Southern District of New York. They were accused of colluding with the biotechnology company’s founder and former chief executive officer, Samuel D. Waksal, to avoid impending financial losses.

Waksal allegedly tipped Ben-Yehuda...
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