June 9, 2015
The SEC charged three men living in California with insider trading in the stock and options of a biotechnology company where one of them worked. Specifically, the SEC alleges Michael J. Fefferman learned material nonpublic information as senior director of information technology at Ardea Biosciences Inc.
and tipped off his brother-in-law in advance of major public announcements related to two pharmaceutical trials, a licensing agreement for a cancer drug, and eventually the acquisition of the company by AstraZeneca PLC. SEC