SEC Charges Citizen of Finland with Insider Trading in Advance of Tender Offer Announcement

ADMINISTRATIVE PROCEEDING
File No. 3-21954

June 6, 2024 – The Securities and Exchange Commission today announced settled charges against Anders J. Lindgren for insider trading in advance of the January 2023 announcement of a tender offer by AstraZeneca PLC (“AstraZeneca”) to acquire CinCor Pharma, Inc. (“CinCor”).

According to the SEC’s order, Lindgren purchased CinCor securities based on material nonpublic information about the impending tender offer that he learned through his work as an Associate Director of Deal Finance and M&A at AstraZeneca. The order finds that Lindgren began purchasing CinCor securities just two days after learning from a colleague that the parties would sign the acquisition documents in the fourth quarter of 2022. According to the order, CinCor’s stock price increased by approximately 135% following the announcement of the tender offer, and Lindgren’s insider trading generated a profit of $682,123.

The SEC’s order finds that Lindgren violated the antifraud provisions of Sections 10(b) and 14(e) of the Securities and Exchange Act of 1934 and Rules 10b-5 and 14e-3 thereunder. Without admitting or denying the SEC’s findings, Lindgren consented to a cease-and-desist order and a five-year bar from acting as an officer or director of a publicly-traded company and agreed to pay disgorgement of $682,123, prejudgment interest of $36,994, and a civil penalty of $682,123.

The SEC’s investigation was conducted by Han Nguyen, John Rymas, and Julia C. Green of the Division of Enforcement’s Market Abuse Unit in the Philadelphia Regional Office. Market Surveillance Specialist Brian Shute of the Division of Enforcement’s Office of Investigative and Market Analytics also provided assistance. The investigation was supervised by Joseph G. Sansone, Chief of the Market Abuse Unit. The SEC appreciates the assistance of the Financial Industry Regulatory Authority.

• Order - Anders J. Lindgren