On November 28, 2017, a federal jury in Hartford, Connecticut found Edward J. Kosinski guilty of two counts of insider trading.  U.S. District Judge Vanessa L. Bryant presided over the trial, which lasted just over two weeks.  At trial, the government presented evidence that, in January 2014, Kosinski entered into an agreement with an agent of Regado Biosciences, Inc. (“Regado”) to act as a principal investigator for Regado’s clinical trial.  Kosinski owned 40,000 shares of Regado common stock in May 2014. After he and the other principal investigators learned the material nonpublic information that the trial would stop accepting new subjects because of allergic reactions in participants, Kosinski sold all his Regado shares, avoiding a $160,000 loss.  After he and the other principal investigators learned the material nonpublic information that the trial was on hold because of the death of a subject, he purchased 50 common stock put option contracts.  Kosinski exercised the put option after the news became public and the stock price plummeted, earning more than $3,000.  A sentencing date has not yet been scheduled.  Kosinski has also been charged by the SEC in connection with the same conduct.  U.S. v. Kosinski, 3:16CR00148 (D. Conn.)

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