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Trump’s HHS Nominee Failed To Properly Disclose Purchase Of Discounted Stock

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Trump’s HHS Nominee Failed To Properly Disclose Purchase Of Discounted Stock

Price learned about Innate Immunotherapeutics from Rep. Chris Collins (R-N.Y.), a member of the firm’s board, in early 2016. On Sept. 1, when the actual price of a share was $0.31, he purchased 400,613 shares at a price of $0.18 each, for an instant profit of $57,080. Based on the current value of Innate Immunotherapeutics stock on the Australian market, the shares Price bought through this private placement are now worth more than $520,000 — more than four times their value at the time of the purchase.