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US charges Pennsylvania man with insider trading related to CVS transaction
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US charges Pennsylvania man with insider trading related to CVS transaction
Nov 3, 2024 3:59 PM

Oct 31 (Reuters) - A Pennsylvania man has been charged

with insider trading for using tips obtained from his domestic

partner to trade in advance of CVS Health's ( CVS ) purchase

last year of Oak Street Health, federal prosecutors said on

Thursday,

Carlos Sacanell, 58, of Willow Grove, was also charged with

making a false statement to a federal agency. The U.S.

Securities and Exchange Commission filed a related civil case

against Sacanell.

U.S. Attorney Jacqueline Romero in Philadelphia said

Sacanell obtained about $617,000 in profit trading in Oak Street

stock and options before CVS announced the takeover in February

2023.

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