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Securities Exchange Commission

SEC scores partial win in insider trading case over 2009 Sanofi deal

“Federal securities regulators have won a partial victory against two brothers accused of trading on inside information in 2009 about French pharmaceutical company Sanofi's plan to buy a Tennessee-based company.”

A jury in the U.S. district court in Cleveland, Ohio, found that Andrew Jacobs and Leslie Jacobs committed insider trading in the context of a tender offer, the U.S. Securities and Exchange Commission announced in a statement.