Romero Cabral da Costa Neto, a visiting attorney at a renowned global law firm, has been thrust into the spotlight following insider trading charges announced by the Securities and Exchange Commission (SEC). This incident, coupled with a recent case in the digital asset market, underscores the evolving challenges of insider trading in both traditional and modern financial landscapes.
Romero Cabral da Costa Neto’s Alleged Misconduct
According to the SEC’s complaint, in 2023, Costa accessed confidential information about the biopharmaceutical company Swedish Orphan Biovitrum AB’s acquisition of CTI BioPharma Corp. (CTIC). On May 9, 2023, a day before the deal’s public announcement, Costa allegedly purchased over 10,000 shares of CTIC. He is accused of selling these shares on the announcement day, realizing a profit exceeding $42,000. The SEC alleges that Costa’s trading activities extended to securities of several other issuers…
