Financial Crime Weekly: Pfizer Statistician's $214,000 Trade Leads To Charges
Portfolio Pulse from AJ Fabino
Amit Dagar, a former statistician for Pfizer Inc, and his business ally Atul Bhiwapurkar, are facing allegations of insider trading related to Pfizer's Paxlovid trial announcement on Nov. 5, 2021. The Securities and Exchange Commission (SEC) accuses the duo of antifraud violations and is pursuing injunctive relief, disgorgement with prejudgment interest, and civil penalties. The U.S. Attorney's Office for the Southern District of New York has also charged Dagar and Bhiwapurkar with corresponding criminal charges.

September 15, 2023 | 8:31 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Pfizer is involved in an insider trading scandal related to its Paxlovid trial announcement. The company's shares moved 11% to the upside on the day of the announcement.
The insider trading allegations could potentially harm Pfizer's reputation and investor confidence, leading to a negative impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100