Bloomberg reports that the Federal Bureau of Investigation and the Securities and Exchange Commission’s probe of trades that SAC Capital made in the Brisbane, California-based biopharmaceutical company is tied to a December 2010 SEC lawsuit against an investor, said the person, who asked not to be named because the matter isn’t public. The investor bought InterMune options before a European Union regulatory panel urged approval of the company’s drug Esbriet to treat a fatal lung disease, the person said, declining to elaborate.
News of the probe into SAC Capital’s trading in stocks including InterMune and Weight Watchers International Inc. (WTW) came after Mathew Martoma, a former portfolio manager at the hedge fund, was charged Nov. 20 with insider trading in two other stocks. SAC Capital told clients Nov. 28 that it had received a so-called Wells notice from the SEC saying investigators may pursue an enforcement action against the firm for fraud and liability related to the unit that employed Martoma, another person familiar with the matter said.
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