SEC Accuses Two Doctors Of Insider Trading After GTx, Inc. Clinical Trial Is Halted
Published: May 20, 2014
Two San Bernardino doctors agreed to pay more than $100,000 in penalties for allegedly selling a pharmaceutical company’s stock after learning that regulators were halting a clinical trial of a prostate cancer drug they were testing. The Securities and Exchange Commission accused Dr. Franklin Chu and Dr. Daniel Lama of insider trading after they avoided significant losses by selling shares of GTx Inc. before the Memphis company disclosed it had been ordered to stop testing the drug Capesaris.
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