Son Of Ex-Ariad Pharma Director Guilty Of Insider Trading

Law360, New York (January 15, 2020, 11:04 AM EST) -- A Manhattan jury found entrepreneur Telemaque Lavidas guilty Wednesday of passing secret tips about his father's company Ariad Pharmaceuticals to his best friend, delivering a third conviction in the Manhattan U.S. attorney's effort to crack down on international insider trading.

The jury of seven women and five men needed about seven hours of deliberations over two days to deliver its verdict after a trial before U.S. District Judge Denise L. Cote that opened on Jan. 6.

Lavidas, 39, was arrested in October and jailed before trial by Judge Cote. Prosecutors say he passed tips about Ariad beginning in 2013 and ending...

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