Man Charged With $4.7M Sanofi Insider Trading Scheme

Law360 (June 13, 2019, 9:51 PM EDT) -- A Swiss businessman has been charged in the U.S. with insider trading ahead of Sanofi SA's acquisition of Bioverativ Inc. last year in an alleged get-rich-quick scheme that netted cash and stock options worth $4.7 million, prosecutors announced on Thursday.

Roland Mathys, 32, is accused of having bought more than 1,600 call options for Biorativ stock in early January 2018 after learning about the pending merger from a friend. According to a parallel civil complaint by the U.S. Securities and Exchange Commission, the tipper was the son of a senior executive. Mathys resides in Switzerland, which also has a criminal insider...

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