Former Mylan IT executive pleads guilty to insider trading

A Mylan’s former IT executive pleaded guilty to an insider trading scheme in which he acted on the advice of another executive before public announcements on profits, drug approvals and an ongoing merger with Pfizer (PFE) division.

In court documents, the United States Securities and Exchange Commission alleged that Dayakar Mallu, 51, was briefed by an anonymous senior Mylan executive and acted on the information four times between September 2017 and July 2019. In exchange for inside information, the former Mylan executive shared some of the benefits with the manager. through cash transactions in India.

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