Litigation Release No. 24984 / December 15, 2020
Securities and Exchange Commission v. Roland M. Mathys, No. 18-civ-00701-JGK (S.D.N.Y.)
On December 2, 2020, the U.S. District Court for the Southern District of New York entered a default judgment against Roland M. Mathys for insider trading in the securities of Bioverativ, Inc.
The SEC's complaint against Mathys, filed on June 13, 2019, alleged that Mathys received material non-public information about an impending acquisition of Bioverativ and, on the basis of that information, purchased out-of-the-money Bioverativ call options in the days immediately leading up to the public announcement. The complaint alleged that Mathys's purchases made up a significant portion of all reported options trades in the series of Bioverativ options he traded, including almost 100 percent of the market in several instances. According to the complaint, Mathys made approximately $5 million from his illicit trading.