Trio go on trial over alleged insider dealing

A FINANCE director and two lawyers appeared in court yesterday charged with eight counts of insider dealing during the £305 million takeover of a biotech firm by Swiss drug-maker Novartis in 2006.
By The Newsroom
Published 19th Apr 2010, 22:02 BST
Updated 19th Apr 2010, 22:06 BST

The case is the latest in a crackdown on market abuse by the Financial Services Authority (FSA), which has brought three successful criminal cases to date.

Andrew King, Michael McFall and Andrew Rimmington sat silently in the dock during the hour-long jury selection process at London's Southwark Crown Court.

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The opening arguments of the trial, which is expected to last between four and six weeks, will begin today.

King, 62, is charged with disclosing inside information about the proposed takeover of NeuTec Pharma, which he was party to as the firm's finance director, to 43-year-old lawyer McFall.

McFall is alleged to have then passed this information on to Rimmington, 40, before the pair bought shares in the firm.