Former Ipsen Executive Jailed for Insider Trading

A former Ipsen executive, Dishant Gupta, was sentenced to two months in prison for insider trading. He illegally profited over $260,000 after acquiring shares of Epizyme using confidential information before Ipsen announced its acquisition of the company. Gupta was also fined $20,000.

Dishant Gupta, once a key player at French drug company Ipsen, has been sentenced to two months in prison by a U.S. court for insider trading over the acquisition of Epizyme.

Gupta, who at the time held a director position in data strategy, profited over $260,000 by purchasing shares before Ipsen's official acquisition announcement. Besides his prison sentence, Gupta is also required to pay a $20,000 fine and forfeit the illicit earnings.

The scandal unfolded after Gupta utilized confidential information from his company regarding the acquisition, breaching the trust of his colleagues and employer as confirmed by prosecutors in court discussions.

(With inputs from agencies.)