The U.S. Securities and Exchange Commission (SEC) announced charges against Brian Marc Rubin of Deerfield, Ill., alleging insider trading of stock options on Array BioPharma before Pfizer announced its takeover bid for Array.。

The SEC filed a lawsuit in federal court in Illinois alleging that Rubin illegally traded Array stock options based on material non-public information about the acquisition learned and misappropriated from his spouse who worked at Array。

The SEC charges also allege that Rubin traded Array stock options before the acquisition was announced and made an illegal profit of $90,458 as a result.。

Rubin has agreed to a judgment, with court approval, permanently prohibiting him from violating the anti-fraud provisions of sections 10 (b) and 14 (e) and rules 10b-5 and 14e-3 of the Securities Exchange Act of 1934, ordering him to pay a $90,458 fine and $16,914 in pre-judgment interest, and ordering him to pay a civil penalty, the exact amount to be determined later by the court.。

In a concurrent lawsuit, the U.S. Attorney's Office for the Northern District of Illinois announced criminal charges against Rubin.。