Article snippet: Embattled Rep. charges related to insider trading — a dramatic reversal from a few days ago when he insisted he would be on the November ballot and seek reelection. “After extensive discussions with my family and my friends over the last few days, I have decided that it is in the best interests of the constituents of NY-27, the Republican Party and said in a statement. He added he will continue serving the rest of his term and “fight the meritless charges brought against me.” The Justice Department charged Collins, 68, with securities fraud and lying to the FBI about his efforts to tip off family members with nonpublic stock information to help them avoid hundreds of thousands of dollars in investment losses. Collins’s case centers on Innate Immunotherapeutics, an Australia-based bio-pharmaceutical firm that had been developing a drug to treat advanced multiple sclerosis. But when clinical trials showed the drug didn’t work, Collins — at the time firm’s largest shareholder and a board member — called his son, Cameron, and told him to sell off the stock before the news was made public, prosecutors alleged in the indictment. Cameron Collins, 25, and his future father-in-law, Stephen Zarsky, 66, were charged with insider trading and lying to federal investigators. All three pleaded not guilty. Collins, who was also the first member of Congress to endorse Trump for president in 2016, made the announcement Saturday after initially pledging to run for reelection on ... Link to the full article to read more