1. People need to understand the law. There is no evidence other members of Congress who owned/sold the same stock as Chris Collins committed a crime. Insider trading requires being a tippee or tipper of confidential, potentially market moving information. If others bought or...
2...sold shares based on Collins recommendation, it is not a crime. If, however, they did so based on Collins providing non-public information, it is a crime. For example, if Collins said "I really recommend this stock" and they bought, it is perfectly legal. If he said....
3..."I would sell now if I were you" AFTER he learned of the research problems, then Collins would be potentially liable as a tipper, but the recipient of the information would have no knowledge that they were the beneficiary of inside information, as defined by law. However....
4...if Collins said "there's been a major problem. You need to get out fast." Then there is a potential criminal tippee liability, because the recipient of that information is aware of Collins' role with the company. And of course, if Collins said "Research problem! Sell!" ....
5...that is undoubtedly a crime. I say this because it drives me nuts when people talk about potential crimes while simultaneously not knowing the laws that define the crimes. That people owned/sold stock is not even suspicious - unless the timing of trades is suspicious.
