4 ms·

Wait, aren't you aware of the "It's not illegal if a billionaire does it" rule?

• Majestic121 4y ago
  Billionaire or not, what is illegal in his move ?
  • metamet 4y ago
    That is a great question and I wonder the same thing. "I am going to dump 1/10th of the company that I very publicly acquired if they don't do what I want them to do" feels like manipulation since he's controlling the value of such a large amount of it. But is it illegal to be willing to lose money if a threat isn't met? Furthermore, would it be illegal for him to dump his shares, allow the trajectory to tank the price further, then rebuy when it bottoms, rinse and repeat?
    • meatsauce 4y ago
      That's called a hostile takeover. Part of being a public company. No, you are allowed to sell your shares if you don't want them anymore.
    • l33t2328 4y ago
      It’s not illegal to say “I want to buy more shares at what I believe to be a generous price. If the board won’t sell me these shares, I don’t trust the judgement of the board and will subsequently sell my existing shares.”