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Insider-Trading Tipster Deserves More Than 18 Months, U.S. Says

June 17, 2020, 2:03 PM

The son of a pharmaceutical company director who provided secret information to a participant in a global insider-trading network should be sentenced to more than 18 months in prison, U.S. prosecutors told a judge in New York.

Telemaque Lavidas was convicted in January of leaking corporate secrets he got from his father, a director of Ariad Pharmaceuticals Inc. Lavidas is set to be sentenced June 25.

“Lavidas is a sophisticated businessman who well understood the duties and responsibilities to keep confidential corporate information,” prosecutors said in a court filing Tuesday. “Despite a stellar education, his family’s extraordinary wealth, and all ...

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