SEC v. Dishant Gupta, No. LR-26103, District of Massachusetts (Sept. 10, 2024) — Press Release
raw: Dishant Gupta
Dishant Gupta, No. LR-26103 (Sept. 10, 2024)
Dishant Gupta, an employee of Ipsen Biopharmaceuticals, agreed to a settlement after being charged by the SEC for insider trading involving the acquisition of Epizyme, Inc.
The SEC charged New Jersey resident Dishant Gupta with insider trading after he allegedly used non-public information about Ipsen Biopharmaceuticals' acquisition of Epizyme, Inc. to realize approximately $260,000 in illegal profits. Gupta faces charges for violating Section 10(b) of the Securities Exchange Act and Rule 10b-5. He has consented to a judgment that prohibits him from serving as an officer or director of a public company.
The Securities and Exchange Commission has charged Dishant Gupta, an employee of Ipsen Biopharmaceuticals, Inc., with insider trading. According to the SEC, Gupta used material non-public information regarding his employer's acquisition of Epizyme, Inc. to purchase shares before the public announcement. These trades allegedly resulted in approximately $260,000 in illegal profits. The SEC's complaint alleges violations of Section 10(b) of the Securities Exchange Act and Rule 10b-5, seeking injunctive relief, disgorgement, and civil penalties. Gupta has consented to a judgment that prohibits him from serving as an officer or director of a public company. This civil action occurs alongside parallel criminal charges filed by the U.S. Attorney's Office for the District of Massachusetts.
Exhibits & Attached Documents (1)
Extracted insights
- $260K $260,000 $100K–$1M
- person dishant gupta
- company epizyme, inc.
- organization Epizyme, Inc.
- scheme_term insider trading
- company ipsen biopharmaceuticals, inc.
- organization Ipsen Biopharmaceuticals, Inc.
- person nicholas karasimas
- person permanent injunctive relief
- agency Securities and Exchange Commission
- organization Securities and Exchange Commission
- Dishant Gupta charged with insider trading
- Securities And Exchange Commission charged Dishant Gupta
- Dishant Gupta purchased Epizyme shares
- Dishant Gupta realized $260,000 in illegal profits
- Securities And Exchange Commission seeks permanent injunctive relief
- Dishant Gupta consented to judgment
- U.S. Attorney's Office filed criminal charges against Dishant Gupta
- Nicholas Karasimas led litigation
- Securities And Exchange Commission appreciates assistance of United States Attorney's Office
- Ipsen Biopharmaceuticals, Inc. agreed to acquire Epizyme, Inc.
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26103 / September 10, 2024 Securities and Exchange Commission v. Dishant Gupta, No. 1:24-civ-12316 (D. Mass filed Sept. 10, 2024) SEC Charges Biopharmaceutical Company Employee with Insider Trading The Securities and Exchange Commission today charged New Jersey resident Dishant Gupta with insider trading ahead of an announcement that Ipsen Biopharmaceuticals, Inc., Gupta's employer, had agreed to acquire Epizyme, Inc. According to the SEC's complaint, filed in the U.S. District Court for the District of Massachusetts, Gupta allegedly became aware of Ipsen's interest in acquiring Epizyme or its premier drug months before the transaction was publicly announced. Gupta allegedly purchased Epizyme shares while aware of that material non-public information and, after the announcement was made, sold the shares realizing approximately $260,000 in illegal profits. The SEC's complaint charges Gupta with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and seeks permanent injunctive relief, disgorgement plus prejudgment interest, civil penalties, and an officer and director bar. Gupta has consented to the entry of a judgment that enjoins him from violating the charged provisions and prohibits him from serving as an officer or director of a public company. Monetary relief is to be determined by the court at a later date. The settlement is subject to court approval. In a parallel action concerning the same conduct, the U.S. Attorney's Office for the District of Massachusetts today filed criminal charges against Gupta. The SEC's investigation was conducted by Nicholas Karasimas, Melissa Coppola, and Sandeep Satwalekar, and supervised by Thomas P. Smith, Jr., all of the New York Regional Office. The litigation will be led by Mr. Karasimas and Mr. Satwalekar. The SEC appreciates the assistance of the United States Attorney's Office for the District of Massachusetts, the FBI, and the Financial Industry Regulatory Authority.
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26103 / September 10, 2024 Securities and Exchange Commission v. Dishant Gupta, No. 1:24-civ-12316 (D. Mass filed Sept. 10, 2024) SEC Charges Biopharmaceutical Company Employee with Insider Trading The Securities and Exchange Commission today charged New Jersey resident Dishant Gupta with insider trading ahead of an announcement that Ipsen Biopharmaceuticals, Inc., Gupta's employer, had agreed to acquire Epizyme, Inc. According to the SEC's complaint, filed in the U.S. District Court for the District of Massachusetts, Gupta allegedly became aware of Ipsen's interest in acquiring Epizyme or its premier drug months before the transaction was publicly announced. Gupta allegedly purchased Epizyme shares while aware of that material non-public information and, after the announcement was made, sold the shares realizing approximately $260,000 in illegal profits. The SEC's complaint charges Gupta with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and seeks permanent injunctive relief, disgorgement plus prejudgment interest, civil penalties, and an officer and director bar. Gupta has consented to the entry of a judgment that enjoins him from violating the charged provisions and prohibits him from serving as an officer or director of a public company. Monetary relief is to be determined by the court at a later date. The settlement is subject to court approval. In a parallel action concerning the same conduct, the U.S. Attorney's Office for the District of Massachusetts today filed criminal charges against Gupta. The SEC's investigation was conducted by Nicholas Karasimas, Melissa Coppola, and Sandeep Satwalekar, and supervised by Thomas P. Smith, Jr., all of the New York Regional Office. The litigation will be led by Mr. Karasimas and Mr. Satwalekar. The SEC appreciates the assistance of the United States Attorney's Office for the District of Massachusetts, the FBI, and the Financial Industry Regulatory Authority.