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he announced he would not renew his contract, is that considered insider trading or is it considered a guy who simply wants to sever himself from a company and sell his shares and terminate his employment? Is it insider trading if you benefit financially by your own decision not to renew a labor contract?
To put it another way, if Stern got hypothetically pissed at Sirius and wanted to take all his marbles and go home and sold his shares then quit he would be committing a crime?
Legally, I have no idea BUT I think the only thing he could do wrong is announce he was leaving, wait for the stock to plummet and then buy more shares and not leave.
yes, that would be insider trading....but the real answer to this question is that he sold his shares 10 days after he came over @9.**.Quote:
Originally Posted by jonpluc@aol.com
biggest pump and dump eva!
Yes, he would be trading on information crucial to the company, not available to the general public and would materially affect the stock price. It would be a crime. However, he seems to go out of his way to stay out of those situations and I think his investment strategies are much more conservative than SIRI.
Actually I think it makes him smarter than all of us....... Certainly than me.