By Andrew Bauer, Jonathan Green and Sofia Skarlatos (August 21, 2018, 12:50 PM EDT) -- On Aug. 8, 2018, Christopher Collins, a member of the U.S. House of Representatives for New York's 27th congressional district, was arrested on insider trading charges for disseminating material, nonpublic information about the Australian biotechnology company, Innate Immunotherapeutics Ltd. Collins was a member of Innate's board of directors and one of the company's largest shareholders. The indictment alleges that, as a member of the board, Collins was given advance notice of the negative results of a clinical trial for the company's only pipeline drug, which was being developed to treat secondary progressive multiple sclerosis.
Specifically, four days before public disclosure of...
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