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Former LTT Biopharma VP Charged For Insider Trading

This article was originally published in PharmAsia News

Executive Summary

The Japan Stock Exchange Committee charged former LTT Biopharma VP Shigenori Saito for insider trading. According to the charge, in January 2008 while Saito was the president for LTT's subsidiary Asklepios, he became aware of LTT's plan to dissolve the affiliation. In March, Saito knew that the subsidiary company could not repay its debts due to a failed investment, and from March 4 to 19, Saito sold over 11,500 company shares and pocketed ¥412 million in profit. (Click here for more - Japanese language

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