Most recently, on June 1, 2020, CNN Business published an article, "Moderna coronavirus vaccine announcement set off a frenzy on Wall Street. Now some are calling for an investigation." CNN highlighted a series of transactions that former SEC officials reportedly said should be investigated. First, just hours after Moderna's May 18 announcement, the company sold 17.6 million shares to the public at $76 per share. Second, on May 18 and 19, 2020, Moderna's CFO and CMO sold a combined $30 million worth of shares. Third, on May 21 and 22, 2020, the company's leading shareholder (Flagship Pioneering) sold about $69.5 million worth of shares.