N.J. U.S. Attorney: Former Head of Corporate Communications of $21B Biopharmaceutical Company Admits Insider Trading
The former head of corporate communications for a biopharmaceutical company today admitted her role in an insider trading scheme,
According to documents filed in this case and statements made in court:
From 2018 through
Malik was among the first, and one of the few, employees who received the material non-public information about the breast cancer drug before the public announcement. Within minutes of obtaining that information, Malik passed it along to Wood, who lived with Malik at the time and was formerly employed by the same company. Before
The securities fraud charge to which Wood pleaded guilty carries a potential penalty of 20 years in prison and a
The
The government is represented by Assistant
The charges and allegations against Malik are merely accusations, and he is presumed innocent unless and until proven guilty.
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Original text here: https://www.justice.gov/usao-nj/pr/former-head-corporate-communications-21-billion-biopharmaceutical-company-admits-insider
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