Insider Trading, David Sokol: Hot Trends
Updated from 8:40 a.m. EDT.
NEW YORK (TheStreet) -- "Insider stock trading" is a hot net search after a U.S. Food and Drug Administration chemist was charged by the Securities and Exchange Commission Tuesday with insider trading on information regarding upcoming FDA drug approval decisions.
The SEC alleges that FDA chemist Cheng Yi Liang illegally generated more than $3.6 million in illicit profits by trading with advanced knowledge on at least 27 public FDA drug approval decisions involving 19 publicly traded companies.
The SEC alleges that in January 2011 he made a profit of about $380,000 in less than 15 minutes when he traded in advance of an FDA announcement approving Clinical Data's (CLDA) application for the drug Viibryd.
"David Sokol" is a hot net search after one of Warren Buffett's leading lieutenants at Berkshire Hathaway (BRK.B) resigned. His resignation came after he purchased shares in Lubrizol (LZ), which he then pushed Buffett to acquire.
Sokol was among the top candidates rumored as a potential replacement for Buffett as CEO of Berkshire Hathaway.
"Starbucks 40th Anniversary" is a trending search topic as the worldwide coffee house chain celebrates its 40th year with a new wordless logo, as well as some new beverage offerings.
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