Executive is convicted of insider trading related to medical device firm acquisition

Prosecutors say an executive at a medical device company has been convicted in Minnesota of insider trading for a scheme involving negotiations for the acquisition of the firm that was valued at $1.6 billion. The U.S. Attorney's Office says Doron Tavlin was a vice president at Mazor Robotics when he learned there was the potential that the company could be purchased by Israeli-based Medtronic, Inc. Prosecutors say Tavlin illegally told a friend, Afshin Farahan, who bought more than $1 million worth of Mazor stock in the anticipation that the value would increase. After the acquisition was announced, Farahan sold the stock and made $500,000. Tavlin was convicted last week. Farahan pleaded guilty in 2022.