What is a Form 3? The federal securities laws require certain individuals (such as officers, directors, and those that hold more than 10% of any class of a company’s securities (“insiders”) to report purchases, sales, and holdings of their company’s securities by filing Forms 3, 4, and 5. When a […]
Tag: Insider Trading
There was an interesting article at Bloomberg.com, which contends that insider trading is everywhere, and no one seems to care.
Having spent the better part of three decades as a securities attorney, and an investor, it seems to me that all three statements are not true. The stock market is not rigged, insider trading is not everywhere, and lots of people care about insider trading.
Former Pharmaceutical Global IT Manager Settles SEC $8 Million Insider Trading Case, Criminal Case Still Pending
The Securities and Exchange Commission today announced insider trading charges against Dayakar R. Mallu, of Orlando, Florida, who generated gains and avoided losses totaling over $8 million by trading in the securities of his former employer, Mylan N.V., ahead of four public announcements between Oct. 3, 2017, and July 29, […]
You cannot trade on material, non-public information, and that includes non-public information concerning the growth in your employer’s subscriber base or information contained in unpublished earnings releases. And if you do, you will undoubtedly be caught, and subjected to some very harsh penalties. Fines, a return of three times the […]
The SEC has been known to attempt to regulate by litigation, a tactic that causes significant problems for their targets, and undermines the integrity of the SEC’s mission. Insider Trading of a Competitor’s Stock? Last week the SEC charged a former employee of Medivation Inc. with insider trading in advance […]
The SEC has announced insider trading charges against a Silicon Valley trading ring whose members generated nearly $1.7 million in illegal profits and losses avoided by trading on the confidential earnings information of two local technology companies. According to the SEC’s complaint, Nathaniel Brown, who served as the revenue recognition […]
The new SEC chair believes that 10b5-1 plans “have led to real cracks in our insider trading regime” and has asked the SEC Staff to make recommendations for the Commission’s consideration on how they might “freshen up” Rule 10b5-1. In his comments to the CFO Network Summit, he made a […]
The SEC has charged James Roland Jones of Redondo Beach, California, with perpetrating a fraudulent scheme to sell what he called “insider tips” on the dark web. The dark web allows users to access the internet anonymously and, as such, has often been used to host websites and marketplaces that […]
The Securities and Exchange Commission today charged James Roland Jones of Redondo Beach, California, with perpetrating a fraudulent scheme to sell what he called “insider tips” on the dark web. The dark web allows users to access the internet… Read the Full Press Release Have a securities law question? Call […]
Eastman Kodak Co’s $765 million loan agreement with the U.S. government to produce pharmaceutical ingredients has been put on hold due to “recent allegations of wrongdoing,” the U.S. International Development Finance Corp (DFC) said. Kodak shares surged more than 1,000% last week after the loan was announced, generating a windfall […]