A former Merck & Co Inc finance analyst plans to plead guilty to engaging in an insider trading scheme by tipping a former Bank of New York Mellon Corp employee about potential pharmaceutical mergers, his lawyer said on Monday. Zachary Zwerko is in the process of negotiating a plea agreement to resolve the conspiracy and securities charges he faces, his lawyer, Jeffrey Denner, confirmed after a court hearing in Manhattan federal court.U.S. District Judge Alvin Hellerstein scheduled a Feb. 19 plea hearing while prosecutors and Zwerko work out a deal."We will present our case at sentencing, and this case will be put in better context," Denner said.Zwerko was one of 92 people charged by the office of Manhattan U.S. Attorney Preet Bharara since 2009 as part of a crackdown on insider trading.
Merck & Co., Inc. is a health care company that offers health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products, which it markets directly and through its joint ventures. Shares of MRK fell by 0.75% or $-0.44/share to $58.35. In the past year, the shares have traded as low as $52.49 and as high as $63.62. On average, 10567000 shares of MRK exchange hands on a given day and today's volume is recorded at 4320938.
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