SEC Nabs 2 For Trading On Insider J&J Merger Info

Law360, New York (June 4, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has filed suit against two men, charging them with insider trading stemming from Johnson & Johnson’s merger with Animas Corp., a company that manufactured products for diabetic patients.

On Wednesday, the SEC filed a civil action against Joseph Fontanetta and Burr B. McKeehan in the U.S. District Court for the Southern District of New York, claiming Fontanetta passed material nonpublic information about the Animas-J&J merger to McKeehan, who subsequently purchased Animas stock in the days leading up to the public...
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