Stryker exec charged in $1.7M insider trading scheme | MassDevice.com On Call

The Securities & Exchange Commission charges Stryker marketing executive Mark Foldy alongside a handful of others in an insider trading scheme that allegedly generated $1.7 million in illegal profits and kickbacks.

MASSDEVICE ON CALL — Former Stryker [1] (NYSE:SYK [2]) marketing executive Mark Foldy was charged alongside a handful of others for his alleged participation in an insider trading scheme that federal authorities say generated $1.7 million in illegal profits and kickbacks.

Foldy allegedly schemed with Sanofi [3] (NYSE:SNY [4]) accounting & reporting director Mark Cupo and Celgene (NSDQ:CELG [5]) financial reporting director John Lazorchak, illegally leaking confidential information about their companies to high school friends who conducted the trades under an "elaborate smokescreen," SEC investigators said.