Sus­pi­cious re­turns trig­ger in­sid­er trad­ing suit fol­low­ing $11.6B Biover­a­tiv deal

Reg­u­la­tors at the SEC are sound­ing an alarm fol­low­ing sus­pi­cious trad­ing ac­tiv­i­ty that went down days be­fore Sanofi’s $11.6 bil­lion buy­out of he­mo­phil­ia drug­mak­er Biover­a­tiv.

The agency has filed a law­suit in the fed­er­al dis­trict court in Man­hat­tan against one — or pos­si­bly many — un­known traders, al­leg­ing in­sid­er knowl­edge led to mas­sive prof­its on the ac­qui­si­tion deal. The law­suit seeks an or­der that would force Cred­it Su­isse, the glob­al bank that processed the trades through an ac­count in Zurich, to dis­close the names of the trad­er(s).

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