Insider Trading Charges Filed Against Pharma Company Accountant, Three Others (HedgeCo.Net)
(HedgeCo.Net) On March 19, 2019, the Securities and Exchange Commission obtained final judgments against a pharmaceutical company accountant and three tippees in an insider trading scheme. The SEC charged Evan R. Kita, Daniel Perez, Richard Yu, and Chiang Yu on August 31, 2017, alleging that Kita, a CPA and former accountant at Celator Pharmaceuticals Inc., provided confidential information about the company to Perez and Richard Yu, who purchased Celator stock based on Kita’s tips and agreed to share their trading profits with Kita. The SEC further alleged that Richard Yu passed the tips to his father, Chiang Yu, who also traded. According to the complaint, to avoid detection, Kita communicated with Perez and Richard Yu through an encrypted smartphone application.
Sun Pharma’s Senior Executive, Wife Settle Insider Trading Case With SEBI (Bloomberg)
Sun Pharmaceutical group’s Senior Executive Abhay Arvind Gandhi and his wife Kiran have settled a case with the Securities and Exchange Board of India related to insider trading in shares of Ranbaxy Laboratories Ltd. in 2014. Both paid a total of over Rs 70 lakh as settlement charges. At the time of alleged violation, Abhay Arvind Gandhi was the chief executive officer of Sun Pharma Laboratories Ltd., a wholly-owned subsidiary of Sun Pharmaceutical Industries Ltd.
FSCA Finds No Proof of Insider Trading at Steinhoff (eNCA)
JOHANNESBURG – The South African Financial Sector Conduct Authority says while investigations are still ongoing, it’s found no evidence of insider trading in Steinhoff’s shares before its stock collapsed. Bloomberg previously reported that former CEO Markus Jooste tipped friends to sell off the company’s shares days before the stock crashed in late November 2017. He apparently warned them of impending, bad news.
What Did This CEO Just Do with Personal Shares of Genomic Health (NASDAQ: GHDX)? (AnalystRatings)
Yesterday, the President & CEO of Genomic Health (GHDX), Kimberly Popovits, sold shares of GHDX for $166.5K. This is Popovits’ first Sell trade following 9 Buy transactions. In addition to Kimberly Popovits, one other GHDX executive reported Sell trades in the last month. Based on Genomic Health’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $105 million and quarterly net profit of $8.91 million. In comparison, last year the company earned revenue of $92.63 million and had a GAAP net loss of $3.78 million. GHDX’s market cap is $2.44B and the company has a P/E ratio of 101.58. Currently, Genomic Health has an average volume of 530.7K.
Thursday 4/11 Insider Buying Report: LNDC, OTEL (Nasdaq.com)
On Tuesday, Landec’s Director, Nelson Obus, made a $310,000 buy of LNDC, purchasing 30,000 shares at a cost of $10.33 a piece. So far Obus is in the green, up about 2.1% on their buy based on today’s trading high of $10.55. Landec is trading up about 0.1% on the day Thursday. Before this latest buy, Obus bought LNDC at 3 other times during the past twelve months, for a total investment of $630,540 at an average of $11.92 per share. And at Otelco, there was insider buying on Wednesday, by Ira Sochet who purchased 7,341 shares for a cost of $17.08 each, for a total investment of $125,419. Before this latest buy, Sochet purchased OTEL on 18 other occasions during the past twelve months, for a total investment of $5.71M at an average of $15.58 per share. Otelco is trading off about 0.7% on the day Thursday.
