The New York FBI has cracked another insider trading case, this time involving employees at the $7 billion Deerfield Management, a high-profile hedge fund whose managing partner warned in 2015 against investing in Valeant Pharmaceuticals due to its unsavory pricing practices.
Insider trading allegations: Deerfield accused of accessing improper information
In 2015, with Valeant stock trading over $100 per share, Deerfield’s New York-based Managing Partner Jim Flynn warned of the excesses at Valeant and its incisive drug pricing and distribution schemes. The stock price eventually collapsed under the weight of a federal investigation and is now trading at near $12 per share.
Today Deerfield Management, whose motto on their website is "Advancing healthcare...
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