Core Viewpoint - The case involves securities fraud and insider trading related to the acquisition of Chinook Therapeutics, Inc. by Novartis AG for US$3.2 billion, with key individuals profiting from non-public information [1][2][3] Group 1: Acquisition Details - In May 2023, Novartis AG proposed to acquire Chinook Therapeutics, Inc. for US$3.2 billion [1] - Haghighat, a director at Chinook, purchased securities in anticipation of the deal and informed three others who also bought shares [1] Group 2: Legal Proceedings - Haghighat was convicted of one count of securities fraud, 16 counts of insider trading, and two counts of conspiracy, with others also facing similar charges [2] - Sentencing for Haghighat and the co-defendants is scheduled for May 4, 2026 [2] Group 3: Statements from Authorities - The U.S. Department of Justice highlighted that Haghighat abused his executive role, breaching trust to profit from insider information [3]
Corporate director convicted of insider trading
Investment Executive·2025-12-19 11:00