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Florida man pleads guilty in Gilead insider trading case

2016-03-10 00:22:27| Biotech - Topix.net

A Florida man admitted to conducting insider trading based on a tip he received from a former Morgan Stanley broker about Gilead Sciences Inc's planned $11.2 billion purchase of Pharmasset Inc in 2011, federal prosecutors said. Jay Fung, 42, of Delray Beach, pleaded guilty on Wednesday to conspiracy to commit securities fraud before U.S. District Judge Anne Thompson in Trenton, New Jersey.

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Category:Biotechnology and Pharmaceuticals

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