BRIEF—SEC sues for alleged insider trading relating to Bioverativ takeover

The US Securities and Exchange Commission has filed a lawsuit relating to what it calls ‘highly suspicious trading’ by one or multiple shareholders in Bioverativ just prior to last week’s announcement that it was  to be taken over by Sanofi.

This case has been filed in the US District Court for the Southern District of New York and cites defendants trading through a Swiss bank account who made ‘timely, and lucrative purchases and sales of options on Bioverativ stock and generated profits of approximately $4.9 million.’

The SEC has made a demand for trial by jury for its claims to be heard.