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A comment on We have reached an agreement in principle for Sam to return to OpenAI as CEO. Parent comment

Re:We have reached an agreement in principle for Sam to retu... by Roark66 on Wednesday November 22, 2023 @01:57AM (#38375768)
Of course they can, but they can't do these and sell/buy stocks involved at the same time. It's not illegal to influence stocks value (one could argue just being a CEO does that), but buying/selling while in possession of insider knowledge.

Let's say Sam called his broker and said to him on Friday we'll before the market closes. Buy MSFT stock. Then he made his announcement on Sunday and on Monday he told his broker to sell that stock before he announced he's actually coming back to (not at all)OpenAI. That would be illegal insider trading.

If he never calls his broker/his friends/his mom to buy/sell stock there's nothing illegal.

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Re:We have reached an agreement in principle for Sam to retu... by Fluorescence on Wednesday November 22, 2023 @02:42AM (#38376178)
Securities fraud is more than insider trading. Misleading investors about a company’s financial health is fraud 101 and it sure looks like he lied about hiring someone to stem a precipitate MSFT drop.
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