Sarissa Capital Management LP and founder Alex Denner have agreed to pay $40 million to end insider trading litigation tied to
The proposed settlement, which requires court approval, would resolve claims that Denner exploited his position as a Bioverativ board member to manipulate the deal process, making $50 million on shares he’d bought six months earlier for well below the sale price. The billionaire hedge funder—a protege of legendary activist investor Carl Icahn—continues to deny any wrongdoing.
Sanofi affiliates previously agreed to pay $84 million to settle parallel claims against Bioverativ’s former ...