Denise Grevas is a 60-year-old woman from Evanston, Illinois. She has been accused by the Department of Justice and the Securities and Exchange Commission with insider trading.
Filing: Grevas Made Over $286,000 From Insider Trading. “In August and September 2019, DENISE GREVAS made $286,960 in illegal profits from the purchase and sale of securities in a Washington state-based pharmaceutical company that was a target for acquisition and later acquired by an overseas-based pharmaceutical company that had an office in Deerfield, Ill., and employed Grevas’s husband, according to a criminal information filed in U.S. District Court in Chicago.” [DOJ]
SEC: Grevas Traded Based On Secret Information, Didn’t Tell Husband. “The SEC’s complaint alleges that Grevas learned material, non-public information about the planned tender offer during a telephone call with her spouse, who was a member of Lundbeck’s due diligence team for the Alder tender offer, in August 2019. According to the complaint, after the call, and unbeknownst to her spouse, Grevas purchased 30,800 shares of Alder stock in five brokerage accounts under her control, trading nearly every trading day until Lundbeck’s announcement.” [SEC]
Grevas Could Face 20 Years In Prison. “The information charges Grevas, 60, with one count of securities fraud. The charge, which was filed by the Securities and Commodities Fraud Section of the U.S. Attorney’s Office in Chicago, is punishable by up to 20 years in federal prison. Arraignment in federal court in Chicago has not yet been scheduled.” [DOJ]
One of the first political bloggers in the world, Oliver Willis has operated OliverWillis.com since 2000. Contributor at Media Matters for America and The American Independent. Follow on Twitter at @owillis. Full bio.