Celgene (CELG), Sanofi (SNY), Stryker (SYK) Execs Charged in Insider Trading Ring
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Several notable pharma have had executives charged with insider trading, though stocks have seen little in the way of reaction as of yet.
According to data out today, the insider-trading ring amon execs from Celgene (Nasdaq: CELG), Sanofi (NYSE: SNY), and Stryker (NYSE: SYK) generated about $1.4 million in illicit profit, according to the U.S attorney in New Jersey. The U.S. SEC charged the men, along with Lazorchak's friend James Deprado, but said illicit profits were somewhere around $1.7 million.
Involved in the ring were:
* Celgene director of financial reporting John Lazorchak;
* Mark Cupo of Sanofi;
* Mark Foldy at Stryker;
* Lazorchak's friend Michael Pendolino;
* Lawrence Grum; and
* Michael Castelli.
According to data out today, the insider-trading ring amon execs from Celgene (Nasdaq: CELG), Sanofi (NYSE: SNY), and Stryker (NYSE: SYK) generated about $1.4 million in illicit profit, according to the U.S attorney in New Jersey. The U.S. SEC charged the men, along with Lazorchak's friend James Deprado, but said illicit profits were somewhere around $1.7 million.
Involved in the ring were:
* Celgene director of financial reporting John Lazorchak;
* Mark Cupo of Sanofi;
* Mark Foldy at Stryker;
* Lazorchak's friend Michael Pendolino;
* Lawrence Grum; and
* Michael Castelli.
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