Srinivasa Kakkera and Abbas Saeedi have been sentenced to 18 months and five months, respectively, for their role in a scheme to commit insider trading, according to the Justice Department on Wednesday.
Kakkera and Saeedi traded on nonpublic information about Lumentum Holding Inc.'s planned acquisition of Neophotonics Corporation, DOJ said. They made $2.45 million and $690,000, respectively.
In addition to serving prison time, the pair have been ordered to forfeit the profits they made from the scheme.
This story was produced by Bloomberg Law Automation.
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.