SEC Obtains Final Judgment Against Former Consultant and Board Member Charged with Insider Trading

September 10, 2021/US SEC

The Securities and Exchange Commission announced that it obtained a final judgment against Oregon resident Mark Ahn on September 8, 2021 in a previously-filed action alleging that Ahn engaged in insider trading in the securities of a Massachusetts-based pharmaceutical company, Dimension Therapeutics, Inc., in advance of an August 2017 merger announcement.

The SEC’s complaint, filed on February 5, 2021 in the United States District Court for the District of Massachusetts, charged Ahn with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. On April 28, 2021, the court entered a partial judgment that enjoins Ahn from violating the above statutes and bars him from serving as an officer or director of any SEC reporting company. The court’s September 8, 2021 entry of the final judgment against Ahn marks the conclusion of the SEC’s action.

In a parallel criminal action brought by the U.S. Attorney’s Office for the District of Massachusetts, Ahn pleaded guilty on March 2, 2021 and was sentenced on June 7, 2021 to six months in prison, six months of home detention, two years of supervised release, a fine of $5,500, forfeiture of $49,421 and restitution to be determined at a later date.

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