When she worked at Ariad Pharmaceuticals several years ago, Maureen Curran was supposed to know something about managing risk. Instead, federal authorities say that she threw caution to the wind.
Along with a former colleague, she has been charged with insider trading by the U.S. Securities and Exchange Commission for allegedly selling Ariad stock in advance of disappointing news about the company’s key medicine. And the spouse of another former Ariad employee was also charged.
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Thanks, Ed. The story of Curran once again shows that the stupidity of my pharma colleagues never fails to amaze. In this case Curran could have taken the $9400 as a capital loss on her 2012 taxes against her capital gains for that year, thereby lowering her tax bill. Now she will likely by ponying up a lot more that $9400 in fines and if she is lucky with a plea bargain may get 3-5 in Hotel Graybar.
Hi Pharmvet1,
That’s a very good point. But I guess, some folks believe cash is king, and fail to think about tax matters.
All best,
ed at pharmalot