Former CEO charged with insider trading tips
A Norwalk resident said he is not guilty of federal charges that he participated in an insider trading scheme.
New Jersey prosecutors allege former Home Diagnostics Inc. CEO George Holley, 70, tipped at least four people to his company”™s planned sale to Tokyo-based Nipro Corp.
Nipro spent $215 million for Home Diagnostics, which is based in Fort Lauderdale, Fla., and sells diabetes management products. Following the acquisition announcement, shares of Home Diagnostics leaped 89 percent on the Nasdaq.
“Trusted with inside information about the acquisition of his company, George Holley allegedly handed it out like party favors to his family and friends,” said U.S. Attorney Paul Fishman, in a prepared statement.
