3 ms·
> First, his employer, Medivation, had a policy that forbade trading other companies’ shares when employees had material nonpublic information about Medivation
by yieldcrv 3y ago
> First, his employer, Medivation, had a policy that forbade trading other companies’ shares when employees had material nonpublic information about Medivation
Note: many financial crimes rely on the government finding your employer agreement that limits you
The SEC would have had no case even in their wildest stretch, if the employer didn’t have this policy
Many financial crimes are contingent on this
- maratc 3y agoHow? Violating your employment agreement is not a crime, you may get fired but you can't go to prison for that.
- yieldcrv 3y agoThe government relies on the existence of the policy to leverage the governments own civil and criminal statutes
- dragonwriter 3y ago> Violating your employment agreement is not a crime, In and of itself? Sure. Can it differentiate between crime and not-crime for certain otherwise similar behavior patterns? Absolutely.
- dboreham 3y ago> Many financial crimes are contingent on this That's a technical detail. What he did was clearly wrong.
- yieldcrv 3y agotechnical details are the only thing important when the government is involved
- Miner49er 3y agoThis is textbook insider trading, regardless of the policy.
- yieldcrv 3y ago“textbook” has never meant “completely novel prosecution theories”, but I guess this is an example of language evolving