The U.S. Securities and Exchange Commission (SEC) announced a settlement on charges of insider trading against Anders J. Lindgren before AstraZeneca PLC's tender offer for CinCor Pharma, Inc., announced in January 2023.

According to the SEC's order, Lindgren purchased CinCor securities based on material non-public information he learned in his role as Associate Director of Transaction Finance and Mergers & Acquisitions at AstraZeneca. The order states that Lindgren began purchasing CinCor securities just two days after learning from colleagues that the acquisition documents would be signed in the fourth quarter of 2022.

The order indicates that following the announcement of the tender offer, CinCor's stock price increased by approximately 135%, generating a profit of $682,123 from Lindgren's insider trading.

The SEC's order found that Lindgren violated the anti-fraud provisions of Sections 10(b) and 14(e) of the Securities Exchange Act of 1934, as well as Rules 10b-5 and 14e-3 under the same Act.

Without admitting or denying the SEC's findings, Lindgren agreed to a cease-and-desist order and a five-year ban from serving as an officer or director of a public company. He also agreed to pay disgorgement of $682,123, prejudgment interest of $36,994, and a civil penalty of $682,123.