A former IT manager at pharmaceutical company Mylan pleaded guilty Friday to criminal charges for his role in an $8 million insider trading scheme.
Dayakar Mallu served nearly three years as vice president of global operations information technology at Mylan before leaving the company in 2017. He admitted that between 2017 and 2019, he conspired with an unnamed executive at Mylan to trade company stock prior to four corporate announcements concerning drug approvals, financial earnings, and a merger.
