SEC v. Hong (John) Wang

Hong (John) Wang allegedly engaged in insider trading in the stock of C4 Therapeutics, Inc. According to the SEC’s complaint, Wang allegedly became aware of positive clinical trial results for C4’s drug while performing biostatistical consulting work and had access to clinical trial data. Wang allegedly purchased C4 shares between November 20, 2023 and December 12, 2023, while aware of material nonpublic information. The complaint alleges that after C4 announced the positive results on December 12, 2023, Wang made $489,739 in realized and unrealized profits. The SEC’s complaint charges Wang and Precision Clinical Consulting LLC with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5.

Summary generated from official Securities and Exchange Commission press release