Pennsylvania man charged with insider trading
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insider tradingReuters
•Pennsylvania man charged with insider trading related to CVS takeover
78% Informative
Carlos Sacanell , 58 , of Willow Grove , Pennsylvania , is charged with insider trading for using tips from his domestic partner to trade illegally ahead of CVS Health's $9.5 billion purchase last year of Oak Street Health .
Authorities say he generated $ 617,000 of trading profit in Oak Street stock and options after his partner, a senior Oak Street executive, shared material non-public information about the planned takeover.
CVS valued the transaction at $10.6 billion including debt.
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