SEC Investigating Genentech Trading: Genentech Inc. said...
From Times Staff and Wire Reports
SEC Investigating Genentech Trading: Genentech Inc. said the SEC is investigating trading in its stock ahead of its previously announced $500-million partial merger with Roche Holdings Inc. The inquiry focuses on communications between the wife of Genentech President and Chief Executive G. Kirk Raab and a member of her family and trading in Genentech securities by persons other than Raab and his wife, the company said. The Raabs have cooperated fully with the SEC, the company said. The SEC inquiry will not have an effect on the proposed merger, Genentech said.
