Skip to main content

Statement on Jury’s Verdict in Insider Trading Case Against Pharmaceutical Executive and Friend

Andrew Ceresney
Director, Division of Enforcement

Nov. 14, 2016

"We are pleased that the jury found the two defendants liable for insider trading.  While employed at Intermune, Dr. Sasan Sabdaran learned highly confidential information that was not to be disclosed outside the company.  Rather than keep this information confidential, he gave it to his friend Farhang Afsarpour, who used it to illegally earn for himself and his friends over $1 million from Intermune trading at the expense of ordinary investors who played by the rules.  This jury verdict reaffirms our commitment to aggressively root out and prosecute insider trading schemes in order to protect the integrity of our markets." 

# # #

More information:

The SEC filed its complaint on Oct. 30, 2014: 
https://www.sec.gov/litigation/litreleases/2014/lr23125.htm