Chairman Pitt makes a good point. These CEOs know better. Even if it was a social meeting and nothing was disclosed, making a significant trade after what meeting just invites an SEC investigation.
Or maybe they are convinced that “email traffic” will somehow prove that there was no confidential information disclosed.
But the appearance of impropriety is certainly there.
Mark Astarita is a nationally recognized securities attorney, who represents investors, financial professionals and firms in securities litigation, arbitration and regulatory matters, including SEC and FINRA investigations and enforcement proceedings.
He is a partner in the national securities law firm Sallah Astarita & Cox, LLC, and the founder of The Securities Law Home Page - SECLaw.com, which was one of the first legal topic sites on the Internet. It went online in 1995 and is updated daily with news, commentary and securities law related links.