Longtime Kadmon consultant slapped with insider trading charges related to $1.9B Sanofi buyout
Months after Sanofi snapped up Kadmon for $1.9 billion, a longtime Kadmon consultant has been accused of using insider knowledge of the buyout to make more than $400,000 in illegal profits.
The SEC filed a complaint against Frank Glassner in a Manhattan federal court on Tuesday, charging him with insider trading. The 68-year-old was also slapped with two securities fraud charges from the Department of Justice, which carry maximum prison sentences of 20 and 25 years, respectively.
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