Illinois man accused of insider trading after making nearly $100K on Pfizer-Array buyout
19 Oct 2023
AcquisitionPatent Infringement
A suburban Chicago man who used insider information he got from his spouse, who worked at Array BioPharma, to make nearly $100,000 from buying and selling stock options will now face charges in a federal court, according to government documents.
The spouse and companies involved are unnamed by
the US Attorney’s Office for the Northern District of Illinois,
which put out a press release Wednesday, and in court records. But a
release
and complaint from the SEC specified the allegations: The “suburban Chicago man,” Brian Rubin, is facing accusations of buying stock options in Array before it was announced that it would be acquired by Pfizer for $11.4 billion in June 2019.
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