A former executive at pharmaceutical company InterMune Inc and a British restaurant owner were found liable on Monday on U.S. civil charges that they engaged in a $1 million insider trading scheme.
The U.S. Securities and Exchange Commission said a federal jury in San Francisco found Sasan Sabrdaran, InterMune’s former director of drug safety risk management, and Farhang Afsarpour, a British friend, liable for insider trading.
The verdict marked a victory for the SEC, which has gone 2-1/2 years without a trial defeat in federal court after suffering a series of losses in insider trading cases.
