SEC Wants $15M From Sanofi Insider Trading Suspect

Law360 (November 10, 2020, 5:13 PM EST) -- The U.S. Securities and Exchange Commission is seeking $14.8 million from a Swiss businessman who has ignored civil and criminal lawsuits accusing him of engaging in insider trading ahead of Sanofi SA's acquisition of Bioverativ Inc.

The federal regulator asked a New York federal judge Monday to enter default judgment against Zurich resident Roland Mathys, equal to three times the $4.9 million he allegedly netted buying more than 1,600 call options for Bioverativ stock in early January 2018 after learning about the pending merger from the son of a senior Sanofi executive.

"Rather than respond to the SEC's amended complaint —...

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