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Ex-Akebia, Merrimack Analysts Found Guilty Of Insider Trades

Law360, Boston (July 10, 2018, 2:33 PM EDT) -- A Massachusetts federal jury debated for less than an hour Tuesday before convicting two former biostatisticians at Akebia Therapeutics Inc. and Merrimack Pharmaceuticals Inc. of swapping confidential information on their companies’ investigational drugs to make illegal trades.

Twelve jurors impaneled on June 25 decided that former Akebia director of biostatistics Schultz "Jason" Chan and former Merrimack director of statistical programming Songjiang "Sam" Wang were each guilty of conspiring and committing securities fraud from 2013 to 2015, resulting in hundreds of thousands of dollars in unrealized gains....
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