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A comment on Insider trade on Splunk acquisition for 45,650% return. Parent comment

Re:Insider trade on Splunk acquisition for 45,650% return by lowbloodsugar on Thursday September 21, 2023 @06:15PM (#37605172)
So if I’m a billionaire, I can say I’m going to buy a company, to build up its stock price, and then short it and publicly walk away? That’s fine because I don’t have a duty to that company’s shareholders? I mean sure, can only do it once, but that’s legal?
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Re:Insider trade on Splunk acquisition for 45,650% return by kasey_junk on Thursday September 21, 2023 @06:52PM (#37605533)
:shrug: it’s not insider trading (by historical norms) that doesn’t make it legal. There are other laws that you might be breaking.
[ Parent | on HN ]