SEC Sues Scientist for Insider Trading in CVS-Oak Street Merger

The US Securities and Exchange Commission is suing a healthcare products scientist for insider trading in the securities of Chicago-based Oak Street Health Inc., based on information he allegedly misappropriated from his domestic partner.

The SEC claims Carlos Sacanell’s partner, a senior executive with Oak Street, shared material nonpublic information with him in January 2023 about CVS Health Corp.‘s planned acquisition of Oak Street, according to its complaint filed Thursday in the US District Court for the Eastern District of Pennsylvania. Sacanell then allegedly purchased Oak Street stock and call options based on this confidential information in advance of ...