October 19, 2023
The U.S. Securities and Exchange Commission has objected to a former pharmaceutical executive's attempt to shake off the agency's first "shadow trading" lawsuit before the case makes it to a jury, arguing proof exists the defendant knew he was committing insider trading when he purchased a competitor's stock.
September 28, 2023
The former pharmaceutical executive at the center of the U.S. Securities and Exchange Commission's first "shadow trading" case said Thursday that he was the wrong guy to test the novel insider trading theory because the agency has not found any evidence that he acted with ill intent when he traded in a competitor's stock.
August 18, 2021
The U.S. Securities and Exchange Commission is entering uncharted legal waters with an insider trading suit against a biopharmaceutical executive for allegedly engaging in a practice that's become known as "shadow trading," experts told Law360.
August 17, 2021
The U.S. Securities and Exchange Commission filed an insider trading case Tuesday that claims a former Medivation Inc. executive bought stock options in a rival biopharmaceutical company "within minutes" of learning his own company was being acquired by Pfizer Inc.