SEC v. Robert Gadimian (insider trading, 2016)

Settled

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In September 2016 the SEC alleged that a former Puma Biotechnology regulatory executive traded on non-public clinical-trial results for more than $1.1 million in profit. A federal court in Boston entered a settled final judgment on July 16, 2018, enjoining him and setting disgorgement of $1,161,000, treated as satisfied by his criminal forfeiture. He pleaded guilty in a parallel case and was sentenced to 27 months.

The record

What was ordered

Civil penalty

—

Disgorgement

$1.2m

Prejudgment interest

—

Total relief

$1.2m

Alleged gain

$1.1m

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The SEC announced this matter on September 29, 2016 as release LR-23662. It alleged that Robert Gadimian, then Puma's senior director of regulatory affairs, bought Puma stock and call options ahead of two announcements on neratinib trial results in December 2013 and July 2014.

The technique tag is this library's own reading of the conduct the regulator describes; agencies charge statutory provisions, not technique names.

According to the SEC's July 2018 release (LR-24217), the District of Massachusetts entered final judgment on July 16, 2018 on consent. It permanently enjoins Gadimian from violating Section 10(b) and Rule 10b-5, and the disgorgement of $1,161,000 is deemed satisfied by the criminal forfeiture. In the parallel criminal case he pleaded guilty and the release reports a 27-month prison term, 24 months of supervised release and a $25,000 fine. The release does not report a civil penalty, and we did not open the court docket. Checked on 2026-10-04.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2016-09-29 Litigation release published
2. 2018-07-16 Final judgment entered on consent (per SEC release LR-24217 of July 26, 2018)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release
• SEC litigation release on the final judgment (LR-24217)

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.