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Insider Trading

SEC settles insider trading cases

October 11, 2019 By Brad Perriello

The U.S. Securities & Exchange Commission said this week that it settled the case against the final five defendants in an insider trading scheme involving involving large corporate mergers. In August 2017, U.S. authorities accused seven individuals of reaping more than $5 million in illicit profits based on tips from Daniel Rivas, whose work at Bank […]

Filed Under: Featured, Mergers & Acquisitions, Wall Street Beat Tagged With: Abbott, Insider Trading, stjudemedical

Ex-Oriole DeCinces draws time served on insider trading conviction

August 14, 2019 By Brad Perriello

A federal judge in California reportedly sentenced former professional baseball player Doug DeCinces to time served this week after his conviction on insider trading charges related to the $2.8 billion acquisition of Advanced Medical Optics by Abbott (NYSE:ABT) in 2009. Federal prosecutors in 2014 accused ex-AMO CEO James Mazzo of tipping former Orioles and Angels player […]

Filed Under: Featured, Legal News, Optical/Ophthalmic Tagged With: Abbott, Advanced Medical Optics, Insider Trading

Feds drop insider trading, perjury charges against ex-AMO chief Mazzo

December 11, 2018 By Fink Densford

Federal prosecutors this week dropped perjury and insider trading charges against former Advanced Medical Optics CEO James Mazzo related to AMO’s $2.8 billion acquisition by Abbott (NYSE:ABT) in 2009 in light of two hung juries, according to court documents. Judge Andrew Guilford for the U.S. District Court for the Central District of California ordered a dismissal with prejudice for Mazzo this […]

Filed Under: Featured, Legal News, Optical/Ophthalmic Tagged With: Abbott, Advanced Medical Optics, Insider Trading

Ex-AMO chief Mazzo settle insider trading charges for $1.5m

November 14, 2018 By Brad Perriello

Former Advanced Medical Optics CEO James Mazzo and the U.S. Securities & Exchange Commission agreed to settle insider trading charges related to AMO’s $2.8 billion acquisition by Abbott (NYSE:ABT) in 2009, after two previous trials ended in hung juries. Mazzo agreed to pay $1.5 million but admitted no wrongdoing in the settlement, the SEC said. Federal prosecutors in 2014 accused Mazzo of tipping a close […]

Filed Under: Featured, Legal News, Optical/Ophthalmic Tagged With: Abbott, Advanced Medical Optics, Insider Trading

Insider trading ring draws another guilty plea

September 10, 2018 By Brad Perriello

Federal prosecutors last week drew another guilty plea in an insider trading case based on alleged tips from a Bank of America employee on pending corporate transactions, including Abbott‘s (NYSE:ABT) $25 billion acquisition of St. Jude Medical. In August 2017, U.S. authorities accused seven individuals of reaping more than $5 million in illicit profits based on tips […]

Filed Under: Legal News, Mergers & Acquisitions Tagged With: Abbott, Insider Trading, stjudemedical

Jury convicts four in CMS-Deerfield insider trading case

May 4, 2018 By Brad Perriello

A federal jury yesterday reportedly convicted a Centers for Medicare & Medicaid Services worker and three others of using inside information as the “secret sauce” in a $7 million insider trading scheme with a well-known healthcare hedge fund. Consultant David Blaszczak, founder of Precipio Health Strategies and the one-time colleague at CMS of Christopher Worrall, pleaded not […]

Filed Under: Dialysis, Legal News, Radiosurgery/Radiation therapy, Wall Street Beat Tagged With: Centers for Medicare and Medicaid Services (CMS), Insider Trading

Feds: CMS insider’s ‘secret sauce’ drove NY hedge fund’s healthcare bets

April 3, 2018 By Brad Perriello

Federal prosecutors yesterday reportedly accused a political consultant of using his contact at the Centers for Medicare & Medicaid Services as the “secret sauce” in a $7 million insider trading scheme with a well-known healthcare hedge fund. Consultant David Blaszczak, founder of Precipio Health Strategies and the one-time colleague at CMS of Christopher Worrall, pleaded […]

Filed Under: Dialysis, Legal News, Radiosurgery/Radiation therapy, Wall Street Beat Tagged With: Centers for Medicare and Medicaid Services (CMS), Insider Trading

Ex-AMO chief Mazzo wins second mistrial in insider trading case

February 23, 2018 By Brad Perriello

Former Advanced Medical Optics CEO James Mazzo this week reportedly won a second mistrial on insider trading charges relating to AMO’s $2.8 billion acquisition by Abbott (NYSE:ABT) in 2009. Federal prosecutors in 2014 accused Mazzo of tipping a close friend and neighbor, former Orioles player Doug DeCinces, about the then-pending merger (Abbott sold the business to Johnson & Johnson (NYSE:JNJ) for $4.33 billion last year). […]

Filed Under: Legal News, Optical/Ophthalmic, Wall Street Beat Tagged With: Abbott, Advanced Medical Optics, Insider Trading

Ex-baseball pro DeCinces testifies in insider trading trial

January 18, 2018 By Brad Perriello

Former professional baseball player Doug DeCinces reportedly testified this week in the second trial of friend and neighbor James Mazzo, the former Advanced Medical Optics CEO accused of insider trading ahead of Abbott‘s (NYSE:ABT) $2.8 billion AMO acquisition in 2009. Federal prosecutors in 2014 accused Mazzo of tipping former Orioles and Angels player DeCinces about the upcoming merger (Abbott sold the business to Johnson & […]

Filed Under: Legal News Tagged With: Abbott, Advanced Medical Optics, Insider Trading

Ex-AMO chief Mazzo seeks dismissal in retrial of insider trading case

August 23, 2017 By Brad Perriello

Former Advanced Medical Optics CEO James Mazzo wants a federal judge to dismiss his retrial on insider trading charges after the first round ended in a mistrial, alleging prosecutorial misconduct. Federal prosecutors argue that Mazzo can’t prove any of his allegations, according to documents filed with the U.S. District Court for Central California. The feds in 2014 accused […]

Filed Under: Legal News Tagged With: Abbott, Advanced Medical Optics, Insider Trading

Ex-Medicare employees, traders deny insider trading charges

June 1, 2017 By Brad Perriello

Former employees at the Centers for Medicare & Medicaid Services pleaded not guilty yesterday to charges that they used confidential information on Medicare reimbursement changes for radiation treatments and dialysis in a nearly $4 million insider trading scheme. Federal prosecutors last month accused political consultant David Blaszczak, founder of Precipio Health Strategies and the one-time colleague at CMS […]

Filed Under: Dialysis, Legal News, Radiosurgery/Radiation therapy, Wall Street Beat Tagged With: Centers for Medicare and Medicaid Services (CMS), Insider Trading

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