2nd Circ. Upholds Conn. Doctor's Insider Trading Conviction

Law360 (September 22, 2020, 7:59 PM EDT) -- A Second Circuit panel affirmed the insider trading conviction of a Connecticut cardiologist who traded on nonpublic drug trial information, holding on Tuesday that there was enough evidence to show he breached his duty to the drugmaker, Regado Biosciences Inc.

Edward Kosinski was a principal investigator on a 2014 clinical trial for Regado's anti-blood-clotting drug. He was convicted in 2017 after jurors heard he had sold Regado shares after learning patients were having allergic reactions and bought stock options after a trial participant died.

On appeal, Kosinski argued that while he agreed to and did keep the trial information secret, he...

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