A former Takeda Pharmaceutical International Inc. (4502) executive was accused of using inside information to make more than $63,000 trading in call options, according a lawsuit filed by the U.S. Securities and Exchange Commission.
Brent Bankosky, a former director in Takeda’s business development group, used non-public information to trade in advance of Takeda’s announcement of transactions involving Cell Genesys Inc. (CEGE) and Millennium Pharmaceuticals Inc. (3437127Q), the SEC said in a civil complaint filed today in Manhattan federal court.
Bankosky also used information about confidential discussions between Takeda and two other drug companies, Arena Pharmaceutical Inc. and AMAG Pharmaceutical Inc., according to the agency. Bankosky failed to profit from his trades in those companies’ securities, the SEC said.
Elissa Johnsen, a spokeswoman for Osaka, Japan-based Takeda Pharmaceutical Co.’s North American unit, didn’t immediately return a voice-mail message seeking comment on the SEC suit. Bankosky’s lawyer, Robert Heim, also didn’t immediately return a voice mail seeking comment.
The case is SEC v. Bankosky, 12-CV-1012, U.S. District Court, Southern District of New York (Manhattan).
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