Westford Resident Charged with Insider Trading: Reports

A Westford resident and employee of a Cambridge biotech company is being charged with insider trading, according to reports.

Songjiang Wang, who reportedly works at biotech company Merrimack Pharmaceuticals, pleaded not guilty, the Boston Business Journal reports. Reuters first reported on the story Tuesday, the BBJ said.

Wang, 52, allegedly "repeatedly passed confidential information about his company’s upcoming announcements — including trial data — to another biotech industry employee named Schultz Chan, who then traded on the tips," the BBJ reports.

>>>Click here for the full BBJ report