The US Securities and Exchange Commission (SEC) has charged the former CIO of Acacia Research Alfred Tobia Jr with insider trading, along with his sister-in-law Elizabeth Lee.
Tobia joined Acacia's board in 2018 and took on the role of president and CIO in 2019, positions he held until September 2021. During this period, Acacia was the sole client of disgraced former fund manager Neil Woodford, who in February that year, was preparing to launch his new advisory firm, Woodford Capital Management Partners. Update: Link completes Woodford-Acacia deal as LF Equity Income value reduces after Ombu deal Acacia is a listed US investor in early-stage life science and biotech companies, the type of stock Woodford had held in his former LF Woodford Equity Income fu...
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