Today the SEC [1] and the DOJ [2] announced civil and criminal charges involving an alleged brazen $8 million insider-trading scheme. The trader, Dayakar Mallu, allegedly traded ahead of four public announcements by his former employer, Mylan N.V., between October 3, 2017, and July 29, 2019. He allegedly obtained material nonpublic information from a friend who still worked at Mylar at the time. The tipper is described only as a “Mylan insider” in the SEC press release, but the DOJ press release calls him an unnamed co-conspirator.
Continue Reading SEC and DOJ Bring Parallel Cases Alleging $8 Million Serial Insider-Trading Scheme