Consultant Gets Prison for Insider Trades in Sanofi-Kadmon Deal

An executive pay consultant will spend a year and a day behind bars for insider trading in connection with Sanofi SA’s $1.9 billion acquisition of biotech firm Kadmon Holdings Inc.

Frank Glassner, 68, was sentenced Tuesday in New York by US District Judge Lewis J. Liman. He pleaded guilty to one count of securities fraud for using confidential information he got while working on the deal and then making trades in Kadmon options that earned him $368,000 in profits.

Glassner, of Novato, California, blamed his conduct on a failed romance, saying he traded on the confidential information ...