NEW YORK (GenomeWeb News) - The US Securities and Exchange Commission late last month sued a former Invitrogen official for allegedly trading stock on insider knowledge in 2004, GenomeWeb Daily News has learned.

 

In its complaint, the SEC accuses Harry Yim of sparing himself $80,000 in losses and profiting to the tune of $410,000 by selling shares in Invitrogen soon after the company was informed in a July 7, 2004, meeting that it is in a “crisis” and that “fully 60 percent of Invitrogen’s business is shrinking.”