A suburban Chicago woman was sentenced to a year in prison Tuesday for using insider trading information to purchase shares of a company ahead of its acquisition by her husband's employer.
state-based pharmaceutical company, according to a statement from the U.S. Attorney’s office for the Northern District of Illinois.
The company was later acquired by an overseas pharmaceutical company that employed Grevas's husband, according to prosecutors.Grevas used non-public information about the expected acquisition to purchase shares in the Washington company ahead of a public announcement about the acquisition on Sept. 16, 2019, the statement said.
Following the announcement of the acquisition, the company's stock price increased and Grevas sold the shares for a $286,960 profit, prosecutors said.U.S. District Judge Harry D. Leinenweber sentenced Grevas to a year-and-a-day in prison and fined her $100,000.
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