Dishant Gupta

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26364 / July 30, 2025

Securities and Exchange Commission v. Dishant Gupta, No. 1:24-cv-12316 (D. Mass. filed Sept. 10, 2024)

SEC Obtains Final Judgment Against Former Pharmaceutical Employee Charged with Insider Trading

On July 29, 2025, the United States District Court for the District of Massachusetts entered a final consent judgment against New Jersey resident Dishant Gupta. The SEC previously charged Gupta with insider trading ahead of an announcement that Ipsen Biopharmaceuticals, Inc., then Gupta’s employer, had agreed to acquire Epizyme, Inc.

The SEC’s complaint, filed on September 10, 2024, alleged that Gupta became aware of Ipsen’s interest in acquiring Epizyme or its premier drug months before the transaction was publicly announced. According to the complaint, Gupta purchased Epizyme shares while aware of that material non-public information and, after the announcement was made, sold the shares and realized approximately $260,000 in illicit profits.

The SEC charged Gupta with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. On September 24, 2024, the court entered a bifurcated consent judgment that enjoined Gupta from violating the charged provisions and prohibited him from serving as an officer or director of a public company. On July 29, 2025, the court entered a final consent judgment that, in addition to including the above relief, found Gupta liable for disgorgement of $260,078 and prejudgment interest of $36,801, for a total of $296,879, payment of which will be offset by $260,078, the amount of forfeiture ordered against Gupta in a parallel criminal proceeding, United States v. Gupta, 24-cr-10279 (JEK) (D. Mass.), in which Gupta pleaded guilty and was sentenced to two months in prison.

The SEC’s investigation was conducted by Nicholas Karasimas, Melissa Coppola, and Sandeep Satwalekar, and supervised by Thomas P. Smith, Jr., all of the New York Regional Office. The litigation was led by Mr. Karasimas and Mr. Satwalekar. The SEC appreciates the assistance of the United States Attorney’s Office for the District of Massachusetts, the FBI, and the Financial Industry Regulatory Authority.