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Apparently, though, he was not specifically told that Equifax had a data breach. He guessed they did based on a project he was being asked to drop everything an
by unreal37 9y ago
Apparently, though, he was not specifically told that Equifax had a data breach. He guessed they did based on a project he was being asked to drop everything and help out with.
It'll be an interesting case if he pleads not guilty.
- oh_sigh 9y agoYeah, I hope he fights the charges just so I can selfishly see how it plays out. It seems there is a strong paper trail of execs intentionally keeping ying out of the loop. If that's the case, and he figures out that everyone is just acting weird, it doesn't seem so straight forward that he was trading with material information. If I work at Amazon as a lowly sde and see Jeff bezos fuming in a conference room with the chief privacy and security officers, and I assume Amazon had a data breach and sell my stock, did I insider trade?
- unclebucknasty 9y agoIt's an interesting question, as even with the insight that everyone is "acting weird", he would have still been trading with more info than the average investor. OTOH, many execs would be privy to more info than the average investor as a matter of course, and we certainly don't prohibit them from trading. So, where is the line drawn?
- billylindeman 9y agoi'd be very interested in knowing that as well. doesn't seem like it'd be material information
- chris_wot 9y agoIf he guessed based on being told to drop everything... then he still knew there was something seriously wrong before everyone else. That's insider trading.
- mulmen 9y agoBut is it illegal insider trading? This is an honest question.