Ex-girlfriend of former Immunomedics exec Usama Malik pleads guilty in insider trading scheme

Just over a month ago, Usama Malik was indicted for giving his girlfriend, among others, insider information that ended up with her making more than $200,000 in profit. Now, she has filed a guilty plea.

The plea, signed March 6, was filed yesterday in federal court before New Jersey District Judge John Michael Vazquez after Lauren Wood, Malik’s ex-girlfriend and a former Immunomedics employee, agreed to a plea deal.

DOJ had initially alleged last year that Malik, formerly the CFO at Immunomedics, gave information to his then-girlfriend and four others regarding a Phase III study halt of breast cancer drug Trodelvy, four days before Immunomedics publicly announced it would be stopping the trial early due to promising signs that it helped patients with triple negative breast cancer. Trodelvy later became the crown jewel of the nearly $21 billion Immunomedics buyout by Gilead several months after the alleged incident.

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