In an opinion dated yesterday, Judge Oetken dismissed an SEC complaint against two individuals who made what it contended were highly suspicious trades in the stock of Onyx Pharmaceuticals, Inc. shortly before Amgen, Inc. made an unsolicited bid for Onyx that made Onyx’s stock price rise. Judge Oetken ruled that the complaint did not have enough facts to suggest that there was an unlawful tip:
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Continue Reading Judge Oetken Dismisses SEC Insider Trading Complaint Containing “All Belief and No Information”