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.
via U.S. judge throws out SEC lawsuit over ‘suspicious’ Onyx trading — Reuters
