A New Jersey man who worked as an executive at a pharmaceutical company pleaded guilty Tuesday in federal court in Boston to using non-public information to earn more than $250,000 in a stock market trade.
Dishant Gupta, 40, of Hillsborough, New Jersey, pleaded guilty to a single count of securities fraud. He will be sentenced on Jan. 9, acting U.S. Attorney for Massachusetts Joshua S. Levy’s office announced.
Gupta, who worked in the Boston office of a global pharmaceutical company, learned in the spring of 2022 that the company was negotiating to acquire assets of another, smaller company. He later learned that the company he worked for reached an agreement to acquire the smaller company outright, including its leading cancer drug, according to the statement.
