New York Attorney General Letitia James sued former Emergent BioSolutions CEO Robert G. Kramer for insider trading, alleging he sold shares for over $10.1 million using non-public information about contamination in AstraZeneca COVID-19 vaccine production.345
Kramer learned of contamination issues as early as October 6, 2020, via a PowerPoint presentation, and implemented a trading plan on October 14, 2020, approved by Emergent on November 13, 2020; sales occurred in January-February 2021 before public disclosure.35
Emergent BioSolutions settled with the AG's office, agreeing to pay $900,000 in penalties and improve executive trading policies for approving Kramer's plan.234
The lawsuit seeks damages, disgorgement of gains, and costs from Kramer under New York's Martin Act; stock price declined after sales, and FDA halted production in April 2021.35
Kramer's lawyer called the lawsuit baseless and an overreach.5
Sources:
2. https://www.bioworld.com/articles/728020-former-emergent-ceo-faces-insider-trading-allegations
3. https://ag.ny.gov/press-release/2026/attorney-general-james-sues-former-ceo-emergent-biosolutions-insider-trading
4. https://www.biospace.com/policy/former-emergent-ceo-hit-with-insider-trading-lawsuit
5. https://abcnews.go.com/US/former-biotech-ceo-sued-covid-vaccine-alleged-insider/story?id=129255131