| Topic Name: |
Insider Trading... |
| Message Name: |
strange |
| Date Posted: |
03/23/2000 |
| In Reply To: |
It wasn't a full-timer. The guy who was a temp looked at road show books and pieced together what companies were being written about. He then told people on the internet, his waiter (he received a couple cases of wine), and others. Needless to say, most of them are having charges being brought against them. |
| Message: |
If this info is correct that the guy looked at road show books, pieced together valuable info, then he should not be charged for insider trading, unless of course in his temp position he was in position of material non-public info (materiality test). If not, the mosaic principle is all the chap did-put together useful info that turned out to be of some value. Would be no different from those who produce 100 different investment newsletters and somehow one of them contains some valuable info to investors.
Yes, you can't tell family members/friends about pending deals. That is illegal and you are certain to face the law. Recall the bizzare case of a high flyier who passed some tips to his "babe" in New Jersey and ruined his career.
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