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23 Sep 2009
A finance director is facing insider dealing charges at the Crown Court after allegedly passing on information about the proposed takeover of Neutec Pharma, a company which develops treatments for life-threatening infections.
The FSA said Peter Andrew King is charged with disclosing inside information relating to the proposed takeover of Neutec Pharma to a lawyer Michael McFall, "having had that inside information by virtue of being Neutec Pharma plc’s finance director, and disclosing it to Michael McFall other than in the proper performance of his job."
McFall allegedly passed the information on to another lawyer Andrew Rimmington before they both bought shares in Neutec Pharma, which was founded by two university professors in 1997.
Following a contested hearing which took place at Westminster Magistrates Court, District Judge Miss Tubbs remanded King, McFall and Rimmington on unconditional bail to appear at Southwark Crown Court for a plea and case management hearing on 28 October 2009.
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