Acorda Jumps on Point72 Investment (BayStreet.ca)
Acorda Therapeutics, Inc. (NASDAQ:ACOR) shares hiked after Point72 reported a 9.8% passive stake in the company. The company currently markets two products: Ampyra (dalfampridine) to improve walking in MS patients and Inbrija (levodopa inhalation powder) for OFF episodes in Parkinson’s patients. The company is expecting the latter to be the growth driver since the former now has generic competition. Q3 revenue was $47.7 million, down 67%. The company, based in Ardsley, New York, finished calendar 2019 by completing a private exchange of $276 million aggregate principal amount of its 1.75% Convertible Senior Notes due June 2021 for a combination of approximately $207 million aggregate principal amount of newly issued 6.00% Convertible Senior Secured Notes due 2024 and $55.2 million in cash.
Prosecutors Have Been Using The Wrong Insider Trading Law All This Time (Deal Breaker)
The ongoing semanto-linguistic debate over the being and bounds of insider-trading has driven men to hope, despair and the brink of madness, It has even driven Congress to consider that most unprecedented act of all: doing something about it. But what if it were all for naught? What if prosecutors have always (or, at least for the last 17 years) had a bulletproof definition ready to hand, and were just using the wrong part of the criminal code? The very court that started all of the drama thinks they do, which is pretty embarrassing for all involved, and exceptionally bad news for Medicare inside dirt peddler David Blaszczak.
Sprawling Insider-Trading Case Heads to Trial (The Wall Street Journal)
The first trial to emerge from a years long investigation into an alleged international insider-trading ring is set to begin next week in Manhattan, a case likely to shed light on a network of high flying securities traders and investment bankers who authorities say were responsible for tens of millions of dollars in illicit profits. The defendant, New York businessman Telemaque Lavidas, is accused of passing inside information about a publicly traded U.S. biotechnology company to a Greek securities trader, Georgios Nikas,…
Becton, Dickinson And Co (BDX) Chairman, CEO and President Vincent A Forlenza Sold $9.1 million of Shares (Guru Focus)
Chairman, CEO and President of Becton, Dickinson And Co., Vincent A Forlenza, sold 33,365 shares of BDX on 01/02/2020 at an average price of $271.28 a share. The total sale was $9.1 million. Becton, Dickinson and Co is a healthcare company. It manufacture and sales medical supplies, devices, laboratory equipment and diagnostic products. It operates in two segments BD Medical and BD Life Sciences. Becton, Dickinson and Co has a market cap of $73.26 billion; its shares were traded at around $270.32 with a P/E ratio of 69.31 and P/S ratio of 4.27.
A Director at On Track Innovations (Other OTC: OTIVF) is Buying Shares (Analyst Ratings)
Today, a Director at On Track Innovations (OTIVF), William Carl Anderson, bought shares of OTIVF for $208K. Following this transaction William Carl Anderson’s holding in the company was increased by 1733.33% to a total of $279.4K. In addition to William Carl Anderson, 2 other OTIVF executives reported Buy trades in the last month.
Six Individuals Charged in $35-MILLION International Microcap Fraud Schemes (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has charged six individuals and their companies with participating in schemes that allegedly generated more than $35 million of illegal sales of stock in at least 45 microcap companies. The charges contained in two complaints reflect investigations by staff in the SEC’s New York and Boston offices, and assistance from multiple regulators outside the U.S. According to one SEC complaint, Steve M. Bajic, a citizen of Canada and Croatia, and Rajesh Taneja, a Canadian citizen, helped shareholders secretly dump large quantities of microcap stock, coordinating the illegal stock sales with Kenneth Ciapala, a citizen of the U.K. and Switzerland, and Anthony Killarney, a U.K. citizen, and Swiss-based company Blacklight SA.
