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US charges ex-CEO of drug company with fraud tied to Teva tender offer

NEW YORK, Aug 25 (Reuters) - U.S. prosecutors on Tuesday announced insider trading charges accusing the former chief executive of Auspex Pharmaceuticals Inc with tipping friends and family about an anticipated tender offer for his company by Teva Pharmaceutical Industries Ltd in 2015.

Prosecutors in New York said the defendant, Sepehr Sarshar, misappropriated material nonpublic information from Auspex related to the tender offer, resulting in trades that generated approximately $700,000 of illegal profit.

Sarshar, 53, of Encinitas, California, was charged with three fraud counts. (Reporting by Jonathan Stempel in New York; Editing by Sandra Maler)