November 6, 2018 / 12:28 PM / 10 months ago

Former Akebia employee gets three years in prison for insider trading

A former Akebia Therapeutics Inc employee was sentenced on Monday to three years in prison after being convicted of working with a friend at a rival drugmaker to engage in insider trading based on information they learned about drug studies, according to the office of Massachusetts U.S. Attorney Andrew Lelling.

Schultz Chan, the former director of biostatistics at Cambridge, Massachusetts biopharmaceutical company Akebia, was sentenced by U.S. District Judge Indira Talwani in Boston after a federal jury in July found him guilty of conspiracy and securities fraud charges.

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