Reuters – A former hedge fund manager and a pharmaceutical executive have agreed to settle federal insider trading charges related to the 2007 takeover of biotechnology company MedImmune Inc, the U.S. Securities and Exchange Commission said on Wednesday.

Stephen R. Goldfield, 46, who ran the hedge fund firm Imperium Capital Management LLC in Tampa, Florida, was charged with making $13.98 million in illegal profit by trading in MedImmune securities before Britain’s AstraZeneca Plc (AZN.L) agreed on April 23, 2007 to buy MedImmune for more than $15 billion, or $58 per share.

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