SEC v. Rouzbeh Haghighat

Rouzbeh “Ross” Haghighat, a former director of Chinook Therapeutics, Inc., allegedly tipped his brother Behrouz “Bruce” Haghighat, his stepdaughter, Kirstyn Pearl, and his friends James Roberge and Seyedfarbod “Fabio” Sabzevari, with material nonpublic information he learned as a Chinook director about the upcoming acquisition by Novartis AG. Bruce Haghighat, Pearl, Roberge, and Sabzevari each allegedly purchased Chinook common stock and/or options ahead of the acquisition announcement, and collectively made over $500000 in illicit profits. Ross Haghighat also allegedly purchased Chinook common stock in a custodial account he managed for a minor stepchild four days before the acquisition was announced, according to the SEC.

Summary generated from official Securities and Exchange Commission press release