A former information technology specialist and his wife were ordered to pay more than $4 million after the couple refused to cooperate in an alleged insider-trading lawsuit that was filed three years ago by the U.S. Securities and Exchange Commission. The couple, Shane Suman and Monie Rahman, refused to testify or comply with discovery requests concerning the purchase of Molecular Devices by MDS.

The SEC accused them of illegally profiting to the tune of approximately $1 million thanks to Suman’s access to confidential emails prior to the January 2007 offer MDS made for Molecular Devices. Suman, according to court documents, was tipped off to the pending acquisition due to his job, which involved troubleshooting computer problems, and he and his wife quickly placed stock and call options orders.

Suman, whose E*Trade account previously rose at modest levels thanks to his day trading, told SEC investigators he purchased Molecular Devices shares after reading an analyst report and noting news about a patent award. Judge William Pauley III of the U.S. District Court for the Southern District of New York fined Suman $2 million, calling his explanation “outlandish.” He fined Rahman $1 million (see the judge’s order).