Biotech Values

[dewophile]

Panuwat’s attorneys countered that the trades weren’t based on confidential information because the merger had been covered publicly by the press

Nice try. Panuwat knew about plans for PFE to acquire the company before it was public. Sure the public knew that the company had a for sale sign after the failed SNY bid to acquire the company, but that was already baked into the share price at the time.