June 7 (Reuters) - A former executive of InterMune Inc has agreed to pay $616,000 to settle claims by the U.S. Securities and Exchange Commission that he illegally tipped a friend in 2010 of the status of a regulatory review for its drug Esbriet.
The SEC said Friday it had reached a settlement with former InterMune controller Bruce Tomlinson, a day after it sued him for telling former business associate Michael Sarkesian that a European regulatory review for the drug was moving faster and better than expected.
Sarkesian went on to buy 400 InterMune call options ahead of the announcement, making $616,000 in profits, the lawsuit said. The SEC said as a result of his tip Tomlinson had violated U.S. securities laws.
The SEC had previously reached a settlement with Sarkesian for insider trading violations in March 2012. He agreed to disgorge $616,000 in profits earned on the trade and pay more than $93,800 in civil penalties