Page 53 - Inside Information News Today

Two of whom traded on the information. one attempted to trade on the information but was unable. in total, the conspirators avoided losses of over $768,000, all because of the initial illegal insider trading tip by congressman collins. in this chart we set some of the key allegations in the indictment against a timeline, a backdrop of the innate share price. on the evening of june 22nd, 2017, congressman collins was at a congressional picnic. and at 6:55 he received an e-mail from the ceo of inn...

The southern district which he could do. then you still have your attorneys general. new york, new jersey, perhaps elsewhere. im not speaking from inside information. youre correct. thats separate and the president cannot pardon someone on a state charge. >>gent, i cant thank you enough. weve learned a lot in this segment. appreciate you both being here for it. ellie honing and david jolly, thanks. a deeper look at the lessons from this particular election night when we come right back. i joined...

Publicly traded company that was developing a drug for multiple sclerosis. in june of 2017, congressman collins was told some confidential and highly sensitive information about innate, information that was not yet made public, namely that innates main drug, the drug innate was developing to be the backbone of its company, was a total failure. this was devastating information for the company. congressman collins had an obligation, a legal duty, to keep that information secret until that informat...

After the market closes, innate announces to the public that its drug had failed the trial. and the next day, the drug price, the price of innate, falls off the cliff. it drops 92% in value in a single day. this was the drop that was anticipated by the co-conspirators. this was the drop in value that the co-conspirators avoided by selling their shares before the public announcement. and they could only sell those shares by virtue of the initial tip of inside information by congressman collins. a...

District and new york, now an nbc legal analyst, happily. daniel, youve prosecuted some of these very cases in that district. >> yes, i prosecuted an insider trading case against the las vegas gambler billy walters last year, phil mickelson was wrapped up in it although not charged. this is a powerful indictment. and what youre seeing here related chris collins is that he is the insider. hes the guy who had the information that was supposed to be kept confidential. he was on the board of directo...

This first chart is a tipping chain. it demonstrates the flow of the illegal insider information and the trading, the illegal trading on that information. at the top of the chain is congressman collins. he had an obligation as innate board member, when he received confidential corporate information, to keep that information secret until the company announced it to the public. in total disregard of that obligation, minutes after congressman collins received the devastating, highly confidential ne...

Sf yes, states are the great escape hatch. if the president goes nuclear and starts firing people including perhaps the u.s. attorneys in the southern district, the u.s. attorney in the southern district which he could do. then you still have your attorneys general. new york, new jersey, perhaps elsewhere. im not speaking from inside information. youre correct. thats separate and the president cannot pardon someone on a state charge. >> gentlemen, i cannot thank you enough. weve learned a lot in...

In two ways. first, he tipped his son to confidential corporate information at the expense of regular investors. and then he lied about it to law enforcement to cover it up. also charged is his son, cameron collins, and steven zarsky, the father of camerons fiance. these charges are a reminder that this is a nation of laws, and that everybody stands equal before the bar of justice. now i would like to go into the details of the allegations a little more. in addition to serving in the house of re...

>> the limits on the presidents ability to pardon are states able to have their own cases so that punishment is still meted out on top of any presidential pardon. sf yes, states are the great escape hatch. if the president goes nuclear and starts firing people including perhaps the u.s. attorneys in the southern district, the u.s. attorney in the southern district which he could do. then you still have your attorneys general. new york, new jersey, perhaps elsewhere. im not speaking from inside i...

Prosecutor, how do you deal with the fact that you have two men whose credibility is to say very bad? i mean you have michael cohen and the president both known for fabrications, for lies, misstatements. how do you then try to piece together an argument when you have two men of that background? >> heres how i would deal with it. if michael cohen were coming to me and wanting to cooperate, we would sit down in probably four, five, six very lengthy debriefing sessions. we would have the million pl...