July 20, 2017 / 2:30 PM / a year ago

Ex-Ariad employee's husband charged in U.S. with insider trading

BOSTON, July 20 (Reuters) - The operator of a Massachusetts-based medical marijuana consultation practice was arrested on Thursday on charges that he engaged in insider trading based on information he learned from his wife, a former employee of Ariad Pharmaceuticals Inc.

Harold Altvater, 55, was arrested and charged in an indictment file in Boston federal court with three counts of securities fraud based on a series of trades he placed in Ariad’s stock in 2013 and 2014, according to court records.

Japan’s Takeda Pharmaceutical Co Ltd earlier this year acquired the Cambridge, Massachusetts-based cancer drug maker in a deal valued at $5.20 billion. (Reporting by Nate Raymond in Boston; Editing by Chizu Nomiyama)

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