A U.S. District Court has ordered a Ukrainian man to pay $580,000, as well as civil penalties, after he traded stock options based on knowledge he obtained from hacking into the computer network of IMS Health, a company that provides the pharmaceutical industry with with sales data and consulting services. According to the federal Securities and Exchange Commission (SEC), Oleksandr Dorozhko purchased 630 “put options,” which gives the buyer the option to sell at a given price, knowing that IMS Health planned to announced worse-than-expected earnings later that day. Dorozhko made $287,346 by selling the options after the company’s stock price dropped 28 percent, the SEC said Monday. — DK
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