Word: aliza
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...that the U.S. Food and Drug Administration was about to deny approval to ImClone's cancer drug, Erbitux. Between Dec. 26 and Dec. 28, authorities say, Waksal tried to sell $5 million in ImClone stock; brokers at Merrill and Banc of America Securities blocked him. His daughter Aliza, however, sold $2.5 million of ImClone on Dec. 27. And Stewart sold $228,000 worth on the same day. The next day, ImClone announced the bad news about Erbitux...
Investigators are leaning on Waksal to talk, hinting that they have enough evidence to indict his daughter for insider trading. (Aliza's lawyer would not comment, and Sam Waksal's lawyers did not return calls.) Sources say Bacanovic is seeking immunity in exchange for testimony against others...
...learned on Dec. 26 that the company's application for the cancer drug Erbitux was going to be denied review by the U.S. Food and Drug Administration--news that the company made public after the markets closed on Dec. 28. He is also accused of tipping off his daughter Aliza, who sold $2.5 million of ImClone, and his father Jack, who sold $6.7 million of the stock ahead of the FDA news. Only Waksal has been charged; he denies wrongdoing...
...Merrill Lynch and then Banc of America Securities refused to execute the trades without checking with ImClone lawyers, who had issued a rule barring employees from trading because of the pending news on Erbitux. But Waksal's father Jack sold $6.7 million worth of ImClone, and his daughter Aliza sold $2.5 million, according to authorities. Sam Waksal's lawyer, Mark Pomerantz, denies any wrongdoing by his client, calling the evidence "circumstantial." Ditto from Jack's lawyer. Aliza's attorney, Stephen Kaufman, could not be reached for comment...
...learned on Dec. 26 that the company's application for the cancer drug Erbitux was going to be denied review by the U.S. Food and Drug Administration-news that the company made public after the markets closed on Dec. 28. He is also accused of tipping off his daughter Aliza, who sold $2.5 million of ImClone, and his father Jack, who sold $6.7 million of the stock ahead of the FDA news. Only Waksal has been charged; he denies wrongdoing...