June 16, 2017
A California federal court on Thursday ordered a former InterMune Inc. director and his friend to collectively pay about $745,600 in disgorgement and interest over their insider trading scheme that capitalized on nonpublic information about the pending approval of InterMune's lung disease drug.
May 16, 2017
A California federal magistrate judge on Monday permanently barred a former InterMune Inc. director from serving as an officer or director in a publicly traded company and refused to toss a jury verdict convicting him and a friend of insider trading.
March 23, 2017
A California federal judge said Thursday she's inclined to grant the U.S. Securities and Exchange Commission's post-trial bid to permanently bar a former InterMune director from serving on the board of publicly traded companies, saying she thinks he lied on the stand before his insider trading conviction.
December 13, 2016
A former InterMune director urged a California federal judge Monday to toss a jury's finding he tipped off a friend about pending European approval of InterMune's lung disease drug, arguing "loose talk" between friends isn't a tip under the U.S. Supreme Court's recent Salman ruling.
November 14, 2016
A California federal jury found Monday that a former InterMune director tipped off a friend about the pending European approval of the pharmaceutical maker’s lung disease drug, handing the U.S. Securities and Exchange Commission a win in its insider trading suit against the two men.
November 10, 2016
Counsel for a former InterMune director accused of tipping off a friend with confidential information about European approval of the company's lung disease drug told a California federal jury during closing arguments Thursday that the U.S. Securities and Exchange Commission targeted the men because of their Iranian heritage.
November 09, 2016
The U.S. Securities and Exchange Commission told a California federal jury in closing arguments Wednesday that an "avalanche of coincidences" proved an InterMune employee tipped off his friend about an impending drug approval, while the friend's attorney countered that his client never altered his investment practices after the alleged disclosure.
October 25, 2016
The U.S. Securities and Exchange Commission called InterMune's chief medical officer to testify in California federal court Tuesday about the regulatory approval path of its lung disease drug Esbriet, part of the agency's bid to prove a former director had tipped off a friend that Esbriet was getting the OK in Europe.
October 24, 2016
The U.S. Securities and Exchange Commission told a California federal jury Monday that phone records and the timing of trades would prove a former board member at medical company InterMune Inc. had tipped off a friend about the pending approval of the company's lung disease drug before it was public information.
September 15, 2016
A California federal magistrate judge on Wednesday shot down arguments from the U.S. Securities and Exchange Commission in an insider trading case stemming from whether spread bets over the medical company InterMune Inc. were made illegally.