New York couple settle insider trader charge by U.S. SEC

FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C.

WASHINGTON (Reuters) – A New York-based couple has agreed to pay more than $325,000 to settle charges of insider trading in the stock of a pharmaceutical company where one was employed, The U.S. Securities and Exchange Commission said on Monday.

Holly Hand, a senior project manager at a company then known as Neuralstem Inc, tipped Chad Calice to information about a failed clinical drug trial, the SEC said. Calice then sold all his shares of Neuralstem ahead of the public announcement.

Attorneys for Hand and Calice did not respond immediately to requests for comment.

(Reporting by Chris Prentice; Editing by Leslie Adler)