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Array BioPharma, Inc. (ARRY) Exec Settles Insider Trading Suit


8/22/2012 7:10:08 AM

The Securities and Exchange Commission has settled allegations of insider-trading against a former manager of Boulder-based Array BioPharma Inc., the Daily Camera reports.

The SEC alleged James L. Lieberman traded shares of the company's stock based on his knowledge of an impending drug-development agreement with Novartis Inc. Lieberman, who was Array BioPharma's manager of environmental health and safety from 2001 to 2010, has paid a $147,628 to end the case. He hasn't admitted or denied the SEC's allegations.

The penalty against Lieberman amounts to the $71,361 in profits he made from the stock sale, the same amount as a one-time civil penalty, and prejudgment interest of $4,906.


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