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This is interesting, I was under the impression that insider trading covered even things accidentally leaked from companies. Is that not the case? If someone us
by nkassis 11y ago
This is interesting, I was under the impression that insider trading covered even things accidentally leaked from companies. Is that not the case? If someone used information hacked or found by another person would that fall under insider trading?
- berberous 11y ago"“Dorozhko’s alleged ‘stealing and trading’ or ‘hacking and trading’ does not amount to a violation” of securities laws, Judge Naomi Reice Buchwald of United States District Court ruled last month. Although he may have broken laws by stealing the information, the judge concluded, “Dorozhko did not breach any fiduciary or similar duty ‘in connection with’ the purchase or sale of a security.” She ordered the S.E.C. to let him have his profits." http://www.nytimes.com/2008/02/15/business/15norris.html http://www.nytimes.com/2008/02/15/business/15norris.html
- jdshutt 11y agoThe Second Circuit reversed that ruling. http://economix.blogs.nytimes.com/2010/03/29/common-sense-and-insider-trading/ http://economix.blogs.nytimes.com/2010/03/29/common-sense-an...