SEC charges 8 men with insider-trading related to Sanofi-Chattem deal

Group made more than $500,000 on confidential information about acquisition

Sorry, Shaq—we don’t think all the Icy Hot in the world could soothe the pain of eight men who just got busted for insider trading.

Yesterday the Securities and Exchange Commission (SEC) charged eight men with participating in an insider-trading scheme that netted them half a million dollars on when they traded on confidential information concerning French drug company Sanofi-Aventis Inc.’s 2009 acquisition of Tennessee-based Chattem Inc., which makes the pain reliever Icy Hot, the allergy medicine Allegra and Gold Bond skin care products, among other items.

Ashley Post

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