The Securities and Exchange Commission (SEC) has filed a lawsuit against Bruce Cameron Conway who accused him of confidential transactions.
Bruce Cameron Conway is 74 years old and lives in the County of Dallas, Texas.
In her complaint, which was submitted to the Northern Provincial Court of Texas on August 7, 2025, the Securities and Exchange Commission claims that, starting on July 22, 2020, Conway has committed confidential transactions when he bought shares of Cancer Genetics, Inc.
Conway bought the stock based on non -public information materials acquired as part of its investment in a private biotech company that was planning to merge with CGIX.
Conway’s investment consultant approached him for a possible investment in a private biotechnology company. After agreeing on confidentiality, Conway learned that the private biotechnology company would be merged into an unrecognized public company Nasdaq.
Within a week, Conway learned from the investment consultant that the public company was CGIX. He then bought the CGIX shares in fifteen accounts belonging to him, his wife, his daughter, his son and other family confidence accounts.
When the CGIX publicly announced the merger about a month later, its shares increased by 215% from the previous day’s closing price and on the same day Conway began selling CGIX shares. Conway’s illegal confidential obstacle created about $ 160,000 in commercial profits in all fifteen accounts.
The Securities and Exchange Commission claims that with the involvement of this behavior, Conway violated Article 10 (b) of the 1934 mobile exchange law (“an act of exchange”) [15 U.S.C. § 78j(b)]and Article 10b-5 from there [17 C.F.R. § 240.10b-5]And if it is not restrained and imposed, it will continue to violate the laws on federal mobile values.
The Securities and Exchange Commission seeks a final decision: (a) which permanently determines the defendant of the laws on federal mobile values, participating in the transactions, actions, practices and courses of businesses submitted in this complaint; Laws 21 (d) (3), (5) and (7) [15 U.S.C. §§ 78u(d)(3), (5) and (7)]; and (c) To order the defendant to pay penalties for political money in accordance with Article 21a of the Law on Exchange [15 U.S.C. § 78u-1].
Conway claimed that the rights of the fifth amendment to self -risk when asked about the purchase of CGIX shares during the sec.