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Sepracor

Independent Filmmaker Charged With Insider Trading

An independent filmmaker has been charged with insider trading related to two biotechnology company takeovers, said the Securities and Exchange Commission in a statement on Monday. Lawrence Robbins is accused of illegally trading on Millennium Pharmaceuticals Inc. and Sepracor Inc. based on confidential information before the announcement of an acquisition by the two firms. Robbins received the information from his partner John Michael Bennett, who in turn received the information from his friend Scott Allen. Both have previously been charged for their roles in the insider trading scheme. Robbins has agreed to settle with the SEC for $1 million.Copyright © 2013 MarketWatch, Inc....

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