A former Bristol-Myers Squibb Co. executive who had pleaded guilty to securities fraud charges earlier this year was sentenced to a year and a day in prison for transactions he made ahead of a planned acquisition by the drug maker, according to the Justice Department.
Prosecutors in June said that as part of his plea in federal court in Trenton, N.J., Robert Ramnarine admitted to trading ahead of the drug maker’s 2012 acquisition of Amylin Pharmaceuticals Inc. and to reaping more than $311,000 in illicit profits by trading on stock options of Amylin, as well as other Bristol-Myers acquisition targets.
via Ex-Bristol-Myers Executive Gets Year-and-a-Day Jail Sentence in Insider-Trading Case – Dow Jones Business News
