DIGHTON, Mass. — A Massachusetts police chief charged with insider trading that allegedly netted a group of men more than $2.2 million in illegal profits will resign.
“On behalf of the community, the Board would like to thank Chief Cronin for his dedicated service to the Police Department, the Town, and its residents,” Caron said. Alexion’s acquisition of Portola, which is based in South San Francisco, California, was publicly announced on the morning of May 5, 2020. Portola’s stock jumped in value. Cronin and others named in the complaint sold their shares of Portola and options for Portola stock, reaping more than $2.2 million in illegally obtained profits, prosecutors said.
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