SEC v. Conway

Bruce Cameron Conway allegedly engaged in insider trading in advance of the August 24, 2020 announcement that Cancer Genetics, Inc. would merge with a privately held biotechnology company. According to the SEC’s complaint, in July 2020, Conway learned that the biotechnology company planned to merge with Cancer Genetics. The complaint further alleges Conway purchased Cancer Genetics shares in fifteen accounts belonging to him, various family members, and family-owned trusts. On August 24, 2020, the merger was publicly announced, and the price of Cancer Genetics stock rose by 215 percent from the previous day’s closing price, resulting in trading profits to Conway of approximately $160000.

Summary generated from official Securities and Exchange Commission press release