Shares sold three months before results: prosecutors

Taipei Times
Date: Mar 27, 2016
By: Staff writer, with CNA

Prosecutors looking into allegations of insider trading involving OBI Pharma Inc (台灣浩鼎) shares said on Friday that the daughter of Academia Sinica president Wong Chi-huey (翁啟惠) sold some of her shares in the company three months before it announced a failed trial of a new cancer drug, an announcement that sent its stock price plunging.

The Shihlin Prosecutors’ Office in Taipei said that the exact number of shares sold by Wong Yu-shioh (翁郁秀) and the flow of the funds still have to be checked.
Prosecutors have screened data supplied by the Financial Supervisory Commission (FSC) on the 50 biggest traders of OBI Pharma shares prior to when the failed test was announced on Feb. 21, and Wong’s daughter was not among that group, the office said.

The office said it would expand the list to check the top 100 traders of OBI Pharma shares during the period, without specifying how long before the announcement the data cover.

Prosecutors summoned OBI Pharma general manager Amy Huang (黃秀美) for questioning to learn about the process of the clinical trial of its breast cancer drug OBI-822.     [FULL  STORY]

Leave a Reply

Your email address will not be published. Required fields are marked *

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.