A former information technology executive at Mylan pleaded guilty on Friday to insider trading for using tips from the drugmaker’s chief information officer (CIO) to trade in its stock, generating $4.27 million of illegal profit, authorities said.
Dayakar Mallu, 51, admitted to conspiring to commit securities fraud, and to an unrelated charge of helping prepare a false tax return, before U.S. District Judge W. Scott Hardy in Pittsburgh.
