October 1, 2018 / 11:19 PM / 6 months ago

Former Ariad employee's ex-husband faces insider trading trial

By Nate Raymond (This story has been corrected to change the first name of the defendant to Harold, not Howard)

The ex-husband of a former Ariad Pharmaceuticals Inc employee went on trial on Monday on charges he engaged in insider trading by selling the company’s stock after learning that regulators had grown concerned about its flagship cancer drug’s safety.

Assistant U.S. Attorney Michael Vito told jurors in federal court in Boston that Harold Altvater misused information his then-wife told him to place trades in 2013 and 2014 that allowed him to make around $100,000 before the news became public.

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