Insider traders snagged in ‘jinxed’ biopharma scheme
This article was originally published in Scrip
Executive Summary
Georgia accountant Thomas Melvin and some of his closest friends found out the hard way that living by Gordon Gekko's "greed is good" doctrine has its drawbacks, especially when attempting to profit by trading on inside information about a pharmaceutical firm, whose deals have been highly scrutinized in recent years by the Securities & Exchange Commission (SEC).