Freeze on Humanigen Director’s Assets Affirmed in Insider Case

Dale Chappell, a Humanigen Inc. board member, is properly subject to an asset freeze in an SEC case alleging he avoided $38 million in losses through insider trading, the Third Circuit ruled Tuesday.

Chappell, who is also the drugmaker’s chief scientific officer, will be allowed the equivalent of his Humanigen salary—$5,637.50 every two weeks—as a carveout from the asset freeze, along with money for legal fees and other specified family expenses, according to the court. The Swiss resident, who allegedly traded on information related to a prospective Covid-19 treatment, “certainly will not be living like a pauper,” Judge Kent A. ...