SEC notch­es win in bio­phar­ma 'shad­ow' in­sid­er trad­ing case

The SEC won its case against a for­mer Medi­va­tion ex­ec­u­tive who bought stocks in a com­pet­ing phar­ma com­pa­ny af­ter learn­ing the con­fi­den­tial news that Medi­va­tion would be bought by Pfiz­er. Al­though the for­mer ex­ec­u­tive, Matthew Panuwat, didn’t trade his own com­pa­ny’s stock, the so-called in­sid­er in­for­ma­tion “shad­ow trad­ing” of In­cyte stock was ruled sim­i­lar­ly il­le­gal and could have a broad­er prece­dent-set­ting ef­fect.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER