The U.S. Securities and Exchange Commission on Monday said it has charged three Florida doctors with illegal insider trading, including a board member at pharmaceutical company IVAX Corp.
The SEC said Zachariah P. Zachariah (pic), an IVAX board member, began illegally trading in the company's securities only minutes after he learned that IVAX might be acquired.
The agency also charged Zachariah's brother, Mammen Zachariah, and his friend, Sheldon Nassberg, with engaging in illegal insider trading in the stock of an unrelated company, Correctional Services Corp, around the same time as the IVAX trading.
Reuters
The SEC said Zachariah P. Zachariah (pic), an IVAX board member, began illegally trading in the company's securities only minutes after he learned that IVAX might be acquired.
The agency also charged Zachariah's brother, Mammen Zachariah, and his friend, Sheldon Nassberg, with engaging in illegal insider trading in the stock of an unrelated company, Correctional Services Corp, around the same time as the IVAX trading.
Reuters
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