Pfizer Headquarters in New York City A former employee for Pfizer was charged by federal investigators on Thursday after being accused of insider trading related to non-public results related to COVID drug Paxlovid.
Amit Dagar, 44, was charged with four counts of securities fraud and one count of conspiracy to commit securities fraud after federal investigators said that he used his knowledge of Paxlovid trials to purchase stock in Pfizer ahead of the release of positive test results.
Dagar “purchased short-dated, out-of-the-money call options in Pfizer stock. DAGAR also tipped his close friend, ATUL BHIWAPURKAR, about the coming drug results and BHIWAPURKAR also purchased short-dated, out-of-the-money Pfizer call options that expired approximately two weeks later. BHIWAPURKAR also tipped another friend (‘Individual-1’), who similarly purchased short-dated, out-of-the-money Pfizer call options that expired approximately three weeks later,” the Southern District of New York’s Department of Justice’s office said.
Bhiwapurkar, from California, was also charged […]
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