NY Sues Ex-Emergent BioSolutions CEO for Insider Trading (1)

Former Emergent BioSolutions Inc. CEO Robert Kramer engaged in illegal insider trading during the Covid-19 pandemic, according to a lawsuit filed Thursday by New York Attorney General Letitia James (D).

As head of Emergent, Kramer used nonpublic information about contamination and manufacturing problems with the Covid vaccine it produced for AstraZeneca to sell more than $10 million worth of Emergent stock, according to the complaint filed in the New York County Supreme Court.

Kramer’s actions violate New York’s Martin Act, which “forbids fraudulent practices, including the trading of stock by company insiders in possession of material nonpublic information,” the lawsuit ...