Micron executive accused of insider trading at former job

Oct 3rd, 2017 | By | Category: Business news, Featured
Anand Jayapalan

Anand Jayapalan

BOISE (AP) — The U.S. government has accused a top Micron Technology Inc. executive of sharing insider information about his former employer with family members.

The Idaho Statesman reports that Anand Jayapalan, who was hired by Micron six weeks ago, is accused of giving his wife, aunt and uncle information about SanDisk that allowed them to make hundreds of thousands of dollars on illegal stock trades in 2014.

Micron declined Monday to say if the lawsuit has impacted Jayapalan’s status or if the company knew about the allegations when it hired him.

The lawsuit accuses Jayapalan of telling his family members that SanDisk was going to buy Fusion Inc. before the transaction, leading them to buy more than 78,000 shares before selling them after the purchase as Fusion’s stick rose 22 percent.

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