The FSA has lost its first insider dealing case, as a finance director and two lawyers walked free from court today.
Former finance director of NeuTec Pharma Andrew King, and former US law firm partners Michael McFall and Andrew Rimmington, were acquitted of all charges by a jury at Southwark Crown Court. King was accused of tipping off McFall, his friend from Fulham United Football Club, that NeuTec, then an obscure AIM-listed stock, was about to be taken over by Swiss giant Novartis. After less than 90 minutes of deliberations, King was acquitted of one count of insider dealing, McFall five counts and Rimmington three counts in the shares of AIM-listed biotechnology company NeuTec. It is the...
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