A former Bristol-Myers Squibb Co. finance executive pleaded guilty to an insider trading charge, admitting to buying stock options in a biotechnology company that the drugmaker was preparing to buy.
Robert Ramnarine, 46, admitted to one count of securities fraud for trading in Amylin Pharmaceuticals Inc options before Bristol-Myers agreed to buy that company last June for $5.3 billion, U.S. Attorney Paul Fishman in New Jersey said. Federal prosecutors had charged Ramnarine with three counts of securities fraud last August . Read the full story.