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Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: steve...
Date: August 08, 2018 10:51AM
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Re: Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: NewtonMP2100
Date: August 08, 2018 10:56AM
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Re: Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: Ted King
Date: August 08, 2018 10:58AM
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Re: Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: Steve G.
Date: August 08, 2018 11:01AM
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Re: Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: Lux Interior
Date: August 08, 2018 11:01AM
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Re: Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: Dennis S
Date: August 08, 2018 11:05AM
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Re: Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: samintx
Date: August 08, 2018 11:12AM
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Re: Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: Steve G.
Date: August 08, 2018 11:25AM
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Re: Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: Speedy
Date: August 08, 2018 11:34AM
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Lux Interior
I thought they made it legal for the swamp critters to do insider trading?
Re: Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: Lux Interior
Date: August 08, 2018 11:36AM
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Re: Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: NewtonMP2100
Date: August 08, 2018 11:58AM
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Re: Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: Lemon Drop
Date: August 08, 2018 12:06PM
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Re: Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: NewtonMP2100
Date: August 08, 2018 12:09PM
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Re: Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: Lemon Drop
Date: August 08, 2018 12:10PM
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Speedy
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Lux Interior
I thought they made it legal for the swamp critters to do insider trading?
They did. Pres. Obama signed it into law - the second worst thing he did. But the Collins' case is different in that he was trading on inside info gained as a board member of the company, not info gained as a congressman.
Re: Rep. Chris Collins (Republican, NY) charged with insider trading
Posted by: pdq
Date: August 08, 2018 03:00PM
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[Former Health and Human Services Secretary Tom] Price bought shares of the company in 2015 and 2016 while still a member of the House, representing Georgia. At least four of Collins’ Republican House colleagues followed suit, buying into Innate in January when the company traded at an all-time high of about $1.20 per share. Collins’ chief of staff, Michael Hook, is among Innate’s top 20 shareholders, as are two of the congressman’s children.
He even bragged publicly, and in front of reporters, about how many of his friends, colleagues, and donors he had made wealthy by recommending they invest in Innate.
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OH in the speaker's lobby: 'Do you know how many millionaires I've made in Buffalo the past few months?' -@RepChrisCollins on his cellphone
— Mike DeBonis (@mikedebonis) January 10, 2017
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Collins also played a major role in shaping the 21st Century Cures Act. According to various news reports, Collins inserted a provision into the late-2016 legislation that allowed a fast-track approval process for investigational drugs. This provision boosted Innate's stock by helping bring Innate's sole product, a Multiple Sclerosis drug called MIS416, to market more quickly.
Collins just happened to have bought up about a million dollars in Innate stock in August 2016, as the 21st Century Cures Act wended its way through Congress. This purchase was part of a special stock offering — a VIP opportunity into which Collins brought some friends. "Sixteen people with close ties to Collins bought Innate shares at discounted prices of $0.18 or $0.26 cents per share," the Daily Beast reported in April. "Those investors have given nearly $42,000 to Collins's political campaigns over the years, a review of campaign finance records found."