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SEC trial scorecard update: Agency starts FY 2017 with victory

Bruce Carton | November 23, 2016

Last week, the SEC prevailed in its first federal court trial of FY 2017. On November 14, 2016, the SEC announced that a jury in the U.S. District Court in the Northern District of California had found a doctor and his friend liable for insider trading in the case of SEC v. Sabrdaran et al.

In a complaint filed in October 2014, the SEC alleged that Dr. Sasan Sabrdaran, the former director of drug safety risk management at InterMune Inc., tipped his British friend Farhang Afsarpour

"with confidential details while he was involved with shepherding the company's application before a European Union regulatory body to market a drug called Esbriet to be used for the treatment of patients with a type of fatal lung disease. Afsarpour, a restaurant owner in the United Kingdom, traded on the...

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