Cardiovascular Systems, Inc. Probed Over Federal Insider Trading

Published: May 01, 2013

Staying up-to-date has never been simpler. Sign up for the free GenePool newsletter today!

Cardiovascular Systems Inc. (CSII), a medical-device maker that a news report said is part of a probe of corporate insider investment vehicles, said it got requests for information from the U.S. government and is complying. The vehicles, known as 10b5-1 plans, let corporate insiders with access to nonpublic information trade in securities under predetermined arrangements. CSI said in a statement that it’s “readily providing” information requested by the government. “We have nothing to hide,” said Dave Folkens, a spokesman for the St. Paul, Minnesota-based company. CSI isn’t “the target” of an investigation and has corporate governance procedures in place to prevent insider trading, he said in a statement.

Help employers find you! Check out all the jobs and post your resume.

Back to news