Two traders have won the dismissal of a U.S. Securities and Exchange Commission lawsuit accusing them of insider trading in Onyx Pharmaceuticals Inc as the company considered a takeover bid from rival Amgen Inc .
The decision by U.S. District Judge Paul Oetken in Manhattan, made public Friday, marked a setback in what has become an increasingly common tactic by the SEC of freezing the accounts of unknown traders engaged in suspicious trading activities.
‘Enforcement 40’ for 2020
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