A New Jersey man accused of using information stolen from Covington & Burling for insider trading has agreed to pay nearly $33,000 to settle a Securities and Exchange Commission suit.
Lawyers for Philip Markin and the SEC disclosed the deal Wednesday in a court filing.
Markin was sued by the SEC this month for allegedly using non-public information about Merck & Co.’s $1.85 billion acquisition of Pandion Therapeutics. He is accused of pocketing more than $16,000 by purchasing Pandion stock in the days leading up to the public announcement of the deal in February 2021.
Markin was one of several ...
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