According to a report from the Office of Congressional Ethics, released Thursday by the House Ethics Committee, there is “substantial reason to believe” Rep. Chris Collins, R-NY, violated House rules, standards of conduct, and federal law. At the recommendation of the office’s report, the committee is continuing to investigate the allegations, which surround Collins’ involvement with pharmaceutical company Innate Immunotherapeutics.

The report, which was initially adopted by OCE in July, recommends further review of the allegation the congressman shared nonpublic information in the purchase of Innate stock. It also claimed there was substantial reason to believe Collins took official action or requested official actions that would benefit the company he had a significant financial interest in.

The office did recommend dismissing allegations the Republican purchased discounted stock that was not available to the public and that was offered to him based on his status as a member of the House. In his response, Collins agreed with that assessment but rejected the other two.

“Each recommendation is the result of a tortured interpretation of reality and also bespeaks a misunderstanding of the facts, the law or both and should be rejected,” his attorney said.

He told the House Ethics Committee the recommendations should be dismissed without further investigation and said the basis for the initial review were politically motivated accusations from Democratic Congresswoman Louise Slaughter.

“Many people, including many members of Congress from his own party, were concerned by his zealous pursuit of profits when he should have been representing his constituents,” Slaughter said. “Former Secretary Tom Price, who refused to cooperate with this investigation, was involved in this scandal and was eventually forced to sell the same stocks in question due to conflicts of interest. He ultimately resigned from the Trump administration as a result of his ethical lapses. Now, the Office of Congressional Ethics has found clear and convincing evidence that Congressman Collins likely broke federal law. He put his obsession to enrich himself before the people he swore to represent. It is a disgrace to Congress and to his constituents, who deserve better.”

OCE said it found evidence that Collins sent emails to shareholders with background information about the company, including information about the number of clinical trial participants and timeline, that were not disclosed publicly.  It also detailed communications between Collins’ office and officials from the National Institute of Health, potentially about the company.

The House Ethics Committee said it can’t make any other public comment until the initial review is completed.