NEW YORK (Reuters) – U.S. prosecutors on Tuesday announced insider trading charges accusing the former chief executive of Auspex Pharmaceuticals Inc with tipping friends and family about an anticipated tender offer for his company by Teva Pharmaceutical Industries Ltd
Prosecutors in New York said the defendant, Sepehr Sarshar, misappropriated material nonpublic information from Auspex related to the tender offer, resulting in trades that generated approximately $700,000 of illegal profit.
Sarshar, 53, of Encinitas, California, was charged with three fraud counts.
(Reporting by Jonathan Stempel in New York; Editing by Sandra Maler)
