>>532651
According to the SEC's complaint, on November 20, 2014 at 4:04 p.m., Yang Xie, then-Director of Global Health Outcomes Research for Merck, received an email from a Merck attorney discussing a contemplated merger between Merck and Cubist Pharmaceuticals, Inc. The email included an attachment advising recipients not to trade in Cubist's stock until a full trading date had elapsed after a public announcement of the acquisition. The complaint alleges that, approximately six minutes later, Xie replied to the e-mail and acknowledged receiving it. Approximately 14 minutes after he received the Merck attorney's email, Xie bought 80 shares of Cubist stock. On January 21, 2015, the date the tender offer was completed, Xie sold his Cubist stock and realized illegal profits of approximately 39%. During the SEC's investigation that followed, Xie allegedly denied learning about Merck's proposed acquisition of Cubist until the night before it was publicly announced.