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by Mike Caswell

Kristyn Pearl, recently sentenced by a federal judge in New Jersey to six months in jail for insider trading in Vancouver-Seattle biopharmaceutical listing Chinook Therapeutics Inc., has filed an appeal. Prosecutors claimed that Ms. Pearl received an "illicit gift" of confidential information about a takeover from her stepfather, Ross Haghighat, who was on the board of Chinook. She then bought out-of-the-money options before the deal became public, the government said.

Ms. Pearl's appeal is contained in a notice filed on Monday, June 29, in federal court in New Jersey. The one-line document contains no details of her appeal, simply stating that she is asking the higher court to overturn her final judgment. In addition to the six-month prison term, that judgment directed Ms. Pearl to serve two years of supervised release. Barring any success on appeal, she must surrender herself to prison authorities by Sept. 23, 2026.

So far there has been no appeal from Mr. Haghighat, who received 40 months in prison for the scheme. Prosecutors claimed that Mr. Haghighat, 62, tipped Ms. Pearl and others in an overall scheme that generated $600,000 in gains. The trading came after Mr. Haghighat had learned about a $3.2-billion takeover offer for Chinook made by Novartis AG.

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