Feds Narrow Insider Trading Case Against Rep. Chris Collins (Law360.com)
Law360 (August 7, 2019, 11:27 AM EDT) — Manhattan federal prosecutors have dropped three insider trading charges against U.S. Rep. Chris Collins, narrowing the scope of a case that the congressman said ran afoul of constitutional protections. Manhattan prosecutors on Tuesday dropped three counts of securities fraud against U.S. Rep. Chris Collins, shown here in June 2018, and omitted another two charges against his son. (Getty) In a superseding indictment on Tuesday, prosecutors dropped three counts of securities fraud against the New York Republican and omitted another two charges against his son Cameron. Both men still face multiple other counts of fraud and conspiracy.
Cars.com Inc (CARS) CEO and President Thomas Alex Vetter Bought $203,800 of Shares (Guru Focus)
CEO and President of Cars.com Inc, Thomas Alex Vetter, bought 20,000 shares of CARS on 08/07/2019 at an average price of $10.19 a share. The total cost of this purchase was $203,800. Cars.com Inc is an online destination for buying and selling of new and used vehicles. The company also operates Auto.com, DealerRater.com, NewCars.com and PickupTrucks.com, websites directed towards different consumer segments. Cars.com Inc has a market cap of $663.380 million; its shares were traded at around $9.95 with a P/E ratio of 27.65 and P/S ratio of 1.22. Cars.com Inc had annual average EBITDA growth of 22.20% over the past five years.
Coinbase Escapes Lawsuit Over Insider Trading Allegations (Decrypt.co)
A District Judge has ruled that US exchange Coinbase did not act fraudulently when it launched controversial Bitcoin fork, Bitcoin Cash (BCH), onto its platform in December 2017. While the exchange initially investigated itself and—unsurprisingly—found no wrongdoing, this was not enough to satisfy angry traders. The class action lawsuit was brought by Jeffrey Berk in December, 2017, accusing Coinbase of insider trading when it suddenly launched Bitcoin Cash on its platform just a few months after stating it would not support the fork.
When Insider Trading Doesn’t Pay (CaixinGlobal.com)
An investor who used the stock accounts of acquaintances to buy shares in a listed company planning a major acquisition has been ordered to hand over his illegal profit of 197 million yuan ($28 million) and pay a fine of 197 million yuan for insider trading. The total penalty, amounting to 394 million yuan, is one of the largest ever imposed on an individual by the securities regulator. Yang Xuechu, who was identified as a 57-year-old man from Changsha, Hunan province, was investigated by the China Securities Regulatory Commission (CSRC) over his trading of shares in online games developer Shenzhen Zqgame Co. Ltd. back in 2013 when it was one of only a handful of such companies listed on the Growth Enterprise Market on the Shenzhen Stock Exchange.
A Director at Chemed Corporation (NYSE: CHE) is Buying Shares (Analyst Ratings)
Today, a Director at Chemed Corporation (CHE), George Walsh, bought shares of CHE for $206.4K. Following George Walsh’s last CHE Buy transaction on May 06, 2019, the stock climbed by 81.4%. This recent transaction increases George Walsh’s holding in the company by 6.44% to a total of $3.42 million.
Neogen Corp (NEOG) President & CEO John Edward Adent Sold $2.2 million of Shares (Guru Focus)
President & CEO of Neogen Corp, John Edward Adent, sold 31,489 shares of NEOG on 08/05/2019 at an average price of $69.03 a share. The total sale was $2.2 million. Neogen Corp, through its subsidiaries, develops, manufactures and markets a line of products dedicated to food and animal safety. Neogen Corp has a market cap of $3.64 billion; its shares were traded at around $69.63 with a P/E ratio of 60.56 and P/S ratio of 8.83. Neogen Corp had annual average EBITDA growth of 11.70% over the past ten years. GuruFocus rated Neogen Corp the business predictability rank of 4.5-star. GuruFocus has detected 2 severe warning signs with Neogen Corp.
