SEC snatch­es Vi­a­tris in­for­ma­tion chief in $8M in­sid­er trad­ing scheme via cash pay­ments in In­dia

The Se­cu­ri­ties and Ex­change Com­mis­sion again showed its abil­i­ty to find in­sid­er traders wher­ev­er they may go, as late last week it filed charges against gener­ic drug com­pa­ny Vi­a­tris’ chief in­for­ma­tion of­fi­cer for tip­ping off a close friend who made $8 mil­lion from the in­sid­er in­fo and shared some of those prof­its with the chief in­for­ma­tion of­fi­cer via cash pay­ments in In­dia.

Pitts­burgh-based Ramku­mar Raya­pured­dy, 54, rose to the rank of glob­al CIO in Jan­u­ary 2016 and, at least from fall 2017 to sum­mer 2019, tipped his friend and for­mer col­league, Dayakar Mal­lu, ma­te­r­i­al non­pub­lic in­for­ma­tion about My­lan’s unan­nounced FDA drug ap­proval, fi­nan­cial re­sults, and an im­pend­ing merg­er with Up­john, a di­vi­sion of Pfiz­er, to cre­ate Vi­a­tris.

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