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Rep. Chris Collins resigns ahead of guilty plea for insider trading

Rep. Chris Collins. Photo: Bill Clark/CQ Roll Call

Rep. Chris Collins (R-N.Y.) is resigning ahead of a hearing Tuesday in which he is expected to change his "not guilty" plea in a criminal insider trading case, Speaker Nancy Pelosi's office confirmed Monday.

Context: In August 2018, Collins was arrested in connection with an alleged insider trading scheme involving Innate Immunotherapeutics, an Australian drug company whose board he sat on for years. Prosecutors allege that Collins, the first congressman to endorse President Trump in 2016, received a tip about about a failed clinical trial involving the company's only product. He then allegedly called his son Cameron, who sold off shares of Innate stock the next day.

Go deeper

Axios
Updated 6 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: The good and bad news about antibody therapies — Fauci: Hotspots have materialized across "the entire country."
  2. World: Belgium imposes lockdown, citing "health emergency" due to influx of cases.
  3. Economy: Conference Board predicts economy won’t fully recover until late 2021.
  4. Education: Surge threatens to shut classrooms down again.
  5. Technology: The pandemic isn't slowing tech.
  6. Travel: CDC replaces COVID-19 cruise ban with less restrictive "conditional sailing order."
  7. Sports: High school football's pandemic struggles.
  8. 🎧Podcast: The vaccine race turns toward nationalism.
Go deeper (1 min. read)Arrow
Dan Primack, author of Pro Rata
Updated 7 hours ago - Economy & Business

Dunkin' Brands agrees to $11B Inspire Brands sale

Photo: Alexi Rosenfeld/Getty Images

Dunkin' Brands, operator of both Dunkin' Donuts and Baskin-Robbins, agreed on Friday to be taken private for nearly $11.3 billion, including debt, by Inspire Brands, a restaurant platform sponsored by private equity firm Roark Capital.

Why it matters: Buying Dunkin’ will more than double Inspire’s footprint, making it one of the biggest restaurant deals in the past 10 years. This could ultimately set up an IPO for Inspire, which already owns Arby's, Jimmy John's and Buffalo Wild Wings.

Go deeper (1 min. read)Arrow
Ina Fried, author of Login
9 hours ago - Technology

Federal judge halts Trump administration limit on TikTok

Illustration: Aïda Amer/Axios

A federal judge on Friday issued an injunction preventing the Trump administration from imposing limits on the distribution of TikTok, Bloomberg reports. The injunction request came as part of a suit brought by creators who make a living on the video service.

Why it matters: The administration has been seeking to force a sale of, or block, the Chinese-owned service. It also moved to ban the service from operating in the U.S. as of Nov. 12, a move which was put on hold by Friday's injunction.

Go deeper (<1 min. read)Arrow

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