Re:U.S. SEC Wins 'Shadow Insider Trading' Trial
by hristov on Saturday July 06, 2024 @07:51AM
(#40889849)
It is a good decision. He traded on insider information, he should not be able to get off because he tried to be clever and traded a different company’s stock.
Some observations. That guy must be a very decisive (or impulsive) person. He heard the news and decided on the alternate stock trick, found an alternate stock, found a suitable option on that stock and executed the trade all within seven minutes. Perhaps the merger was in the works for a while and he had been thinking and planning this for a while and just pulled the trigger when he heard the merger was approved.
Also, hners should know that they are getting a lot of value by reading that article. Apparently it was written by a team of eight lawyers, seven of which are partners! Considering the billing rates of toplaw partners, this humble article may easily represent 10k dollars of billable time!
Some observations. That guy must be a very decisive (or impulsive) person. He heard the news and decided on the alternate stock trick, found an alternate stock, found a suitable option on that stock and executed the trade all within seven minutes. Perhaps the merger was in the works for a while and he had been thinking and planning this for a while and just pulled the trigger when he heard the merger was approved.
Also, hners should know that they are getting a lot of value by reading that article. Apparently it was written by a team of eight lawyers, seven of which are partners! Considering the billing rates of toplaw partners, this humble article may easily represent 10k dollars of billable time!