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Collins settles in insider trading case

State News

ROCHESTER, N.Y. (WROC) — The Securities and Exchange Commission has reached a settlement with former congressman Chris Collins in the insider trading case against him.

Earlier this year, Collins plead guilty to conspiracy and lying to the FBI.

According to the SEC complaint, Collins learned about negative trial results from the company’s CEO and spoke to his son Cameron — who traded the information and tipped others.

The settlement bars Collins from serving as an officer or director of a public company. It also requires Cameron Collins to give up the losses he avoided as a result of insider trading.

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