Rep. Chris Collins Pleads Not Guilty to Revised Insider-Trading Charges (The Wall Street Journal)
U.S. Rep. Chris Collins appeared in federal court in Manhattan on Thursday, where he pleaded not guilty to a revised indictment outlining what prosecutors called an insider-trading scheme. Mr. Collins, a Republican from western New York, was arrested last year. Prosecutors accused him of passing a confidential tip to his son, Cameron Collins, so he could sell shares of an Australian biotechnology company before the public disclosure of a failed drug trial.
Insider-Trading Law Fix is within Reach (Zawya.com)
NEW YORK – Here’s a hot tip that the U.S. Congress may be ready to heed: Insider-trading law is ripe for reform. America’s frequently gridlocked lawmakers seem closer than ever to clarifying rules that have perplexed investors, Wall Street watchdogs and judges for decades. With prosecutors finding new ways to stretch existing legal limits and dodgy traders slipping through loopholes, a fix to the rules could not come at a better time. A case now working its way through U.S. District Court in Manhattan shows why. Six years ago Richard Lee, an ex-trader at Steven Cohen’s former SAC Capital Advisors hedge fund, pleaded guilty to insider trading – just days before the firm itself was indicted.
Ex-MMM Executive Deputy Chairman Jailed, Fined for Insider Trading (TheEdgeMarkets.com)
KUALA LUMPUR: Former Malaysian Merchant Marine Bhd (MMM) executive deputy chairman Datuk Ramesh Rajaratnam was found guilty of insider trading by the Sessions Court yesterday. Ramesh, 55, was sentenced to five years in jail and fined RM9 million, following a full trial with 24 witnesses testifying, said the Securities Commission Malaysia (SC) in a statement. The SC said Judge Azman Ahmad convicted Ramesh on all charges, but allowed a stay of his jail sentence pending an appeal.
Thursday 9/12 Insider Buying Report: RBB, NLTX (Nasdaq.com)
At RBB Bancorp (RBB), a filing with the SEC revealed that on Wednesday, Director Peter M. Chang purchased 115,000 shares of RBB, at a cost of $20.00 each, for a total investment of $2.3M. RBB Bancorp is trading down about 0.3% on the day Thursday. This buy marks the first one filed by Chang in the past twelve months. And also on Wednesday, See Remarks Jonathan G. Drachman bought $781,747 worth of Neoleukin Therapeutics (NLTX), buying 250,000 shares at a cost of $3.13 a piece. Neoleukin Therapeutics is trading up about 4% on the day Thursday. So far Drachman is in the green, up about 11.3% on their purchase based on today’s trading high of $3.48.
Facebook Inc (FB) COB and CEO Mark Zuckerberg Sold $23.6 million of Shares (Guru Focus)
COB and CEO of Facebook Inc, Mark Zuckerberg, sold 125,600 shares of FB on 09/09/2019 at an average price of $187.58 a share. The total sale was $23.6 million. Facebook Inc is the world’s largest online social network. Its products are Facebook, Instagram, Messenger, WhatsApp, and Oculus. Its products enable people to connect and share through mobile devices and personal computers. Facebook Inc has a market cap of $537.75 billion; its shares were traded at around $188.49 with a P/E ratio of 31.95 and P/S ratio of 8.69. Facebook Inc had annual average EBITDA growth of 48.30% over the past five years.
A Director at Wyndham Destinations Inc (NYSE: WYND) is Selling Shares (Analyst Ratings)
Today, a Director at Wyndham Destinations Inc (WYND), George Herrera, sold shares of WYND for $92.72K. Following George Herrera’s last WYND Sell transaction on June 05, 2019, the stock climbed by 8.3%. In addition to George Herrera, 2 other WYND executives reported Sell trades in the last month.
