Watchdog: COVID vaccine giant hyped vague data, cashed $90M in stock

Accountable.US says timing of trades are suspicious, looks into COVID-19 vaccine manufacturers.

| Jun 6, 2020 at 9:11 am CDT

In what feels like not-so-surprising news, Accountable.US -- an anti-corruption watchdog, is putting pressure on the US Securities and Exchange Commission (SEC) to investigate COVID-19 vaccine manufacturer Moderna.

Watchdog: COVID vaccine giant hyped vague data, cashed $90M in stock 911 | TweakTown.com

Why? Oh, because the watchdog group thinks the company cashed in around $90 million worth of shares days after it shared vague "positive" data on its early COVID-19 vaccination clinical trial. The watchdog said that the timing of the trades are "suspicious" and has questions whether Moderna executives coordinated their stock sales before the release of data.

Accountable.US President Kyle Herrig wrote a letter to the SEC which reads: "This misconduct was particularly egregious because it involved not only financial fraud and manipulation of the financial markets, but also because it exploited widespread fears surrounding the ongoing COVID-19 pandemic".

Herrig adds: "I strongly urge the SEC to investigate these matters".

You can read more about Moderna's seemingly dodgy acts here.

Last updated: Jun 16, 2020 at 04:29 pm CDT

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