The U.S. Attorney’s Office for the District of Delaware recently announced the indictment of Casey Muggleston, a 44-year-old Wilmington man and engineering manager, for his alleged role in a $1.4 million insider trading scheme. On June 23, 2026, Muggleston was indicted by a federal grand jury on one count of securities fraud and four counts of insider trading for a scheme that allegedly involved Constellation Energy Corporation, his publicly traded energy-company employer. On July 2, 2026, he pleaded not guilty to the charges against him.
According to federal prosecutors, between May 2024 and September 2024, Muggleston obtained confidential information during the course of his employment as an engineering manager at Constellation, an energy company that operated nuclear, hydroelectric, wind, and solar generation facilities and owned a reactor that had ceased operations in 2019. Muggleston allegedly used material nonpublic information (“MNPI”) about the company’s efforts to restart the nuclear reactor to purchase hundreds of Constellation call options using his personal brokerage account, despite company policies barring insider trading and trading in the company’s call options. After Constellation publicly announced the restart of the reactor and its power purchase agreement with a large technology company on September 20, 2024, Muggleston allegedly sold 550 call option contracts for approximately $1,480,380.67.
The Securities and Exchange Commission also filed parallel civil charges against Muggleston in connection with his Constellation trades. Muggleston is charged with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and the SEC is seeking an injunction, disgorgement with prejudgment interest, and the imposition of a civil penalty.
USAO DDE Press Release| Redacted Indictment | Docket Minute Entries – Not Guilty | SEC Litigation Release | SEC Complaint