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by Mike Caswell

Ross Haghighat, the Boston man sentenced to 40 months in a U.S. prison for insider trading in Vancouver-Seattle biopharmaceutical listing Chinook Therapeutics Inc., is set to file an appeal. Prosecutors claimed that Mr. Haghighat, 62, tipped others in a scheme that generated $600,000 in gains from a $3.2-billion takeover offer made by Novartis AG. (All figures are in U.S. dollars.) He learned about the takeover through board meetings, the government said.

Mr. Haghighat has not yet set out the details of his appeal, only revealing that he intends to file one through a letter to the judge. (That letter seeks an extension of his bail.) He previously denied any wrongdoing, claiming that his associates bought Chinook amidst favourable coverage from reputable investment banks. He said that there were at least 20 analyst reports recommending Chinook, with one encouraging investors to buy and saying the stock would nearly double.

The appeal comes less than a month after the judge sentenced Mr. Haghighat, ordering him to serve 40 months and imposing a $1-million fine. A jury previously convicted him and others, reaching a guilty verdict on Dec. 17, 2025. Mr. Haghighat has not yet begun serving his sentence.

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