On August 4, 2016, Edward Kosinski pled not guilty to two counts of securities fraud-insider trading.  In 2014, Kosinski was working as a Principal Investigator for a clinical trial being run by Regado Biosciences, Inc., a company in which he owned 40,000 shares of common stock.  The government alleges that on June 29, 2014, he learned material non-public information through his role as a principal investigator about allergic reactions occurring in the clinical trial.  He allegedly sold his 40,000 shares before this information was released to the public and, as a result, avoided a loss of approximately $160,000.  Similarly, it is alleged that on July 29, 2014, Kosinski learned of a death that occurred in the clinical trial and thereafter purchased common stock put option contracts, which he exercised after the company permanently halted its clinical trial due to the death, profiting approximately $3,000.  United States v. Kosinski, 16-cr-148 (D. Conn.). DOJ Press Release