SEC Charges Uncle and Nephew in Insider Trading Scheme The SEC alleges that the patent agent also tipped his brother ahead of Sequenom's announcement that investors could no longer rely on previously disclosed data related to its Down syndrome test. The announcement caused Sequenom's stock price to drop by more than 75 percent in one day. Cohen illegally obtained and tipped inside information just prior to the company's announcement through a series of communications, including a call he placed from a pay phone near his workplace to convey information to Myers, who immediately purchased risky Sequenom put options just minutes before the markets closed on April 29, 2009. The next morning, Myers sold his entire Sequenom position for illegal profits of more than $570,000. http://www.sec.gov/news/press/2010/2010-241.htm