Reported 1 day ago
A federal judge ruled that Pfizer cannot recover approximately $75.2 million from an SEC insider trading settlement related to its acquisition of Wyeth. The judge determined that Wyeth did not qualify as a victim of the securities violations and ordered the funds to be directed to the U.S. Treasury instead. This decision arose from a larger civil settlement involving insider trading by Mathew Martoma, linked to tips about a drug trial.
Source: YAHOO