this post was submitted on 12 Apr 2025
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She sold $230,000 worth of stock in a biopharmaceutical company after executives tipped off friends and family about a key drug they were researching failing to acquire FDA approval. After news became public, the company's stock fell.
She was sentenced to 5 months in prison, 5 months of house arrest, two years probation, and recieved a 5 year ban from serving as an executive of a public company, and a fine of $195,000. She has also been denied entry into other countries like Canada and the UK for being a convicted felon.
Holy shit. That seems a bit harsh.
Or, stick with me, it's not overly harsh, it should just be applied to everyone who does insider trading.
That was pretty much what I meant in a roundabout way. They're being extremely harsh on her when other people are getting away with the same or worse on a daily basis.
Oh definitely - Black Edge is a fascinating book on the subject if you're interested.
I'll go check it out thanks.