SEC Violation? - GoFuckYourself.com

kmanrox · 10-06-2004, 11:07 AM

I'm just curious.. I don't know much about the market and its laws...

Let's say that Howard Stern bought $5m worth of Sirius Satellite stock the day before he made his announcement he's leaving radio for satellite. Is that illegal?

I'm assuming it is, but he's not an 'insider' so I'm not sure. What do you think or know and why?

EscortBiz · 10-06-2004, 11:12 AM

no hes not an insider in the company or didnt get info from an insider

Nathan · 10-06-2004, 11:16 AM

Its not illegal?! You sure? He is an insider by being a current of future employee or sub contractor no? Yesterday, he knew stuff the general public could not have known.

kmanrox · 10-06-2004, 11:16 AM

Quote:

Originally posted by EscortBiz
no hes not an insider in the company or didnt get info from an insider

jesus... i would guess certain powerful celebrities do this all the time then... interesting.

pornguy · 10-06-2004, 11:18 AM

He better be careful or he will have the cell next to Martha. And can you imagine what that bitch will try to do to him??

EscortBiz · 10-06-2004, 11:28 AM

Quote:

Originally posted by Nathan
Its not illegal?! You sure? He is an insider by being a current of future employee or sub contractor no? Yesterday, he knew stuff the general public could not have known.

hes an employee ? didnt know that

noone take my legal advice here please, I dont touch the stock market and just posted what i thought

ill try to find out thou

EscortBiz · 10-06-2004, 11:32 AM

http://beginnersinvest.about.com/cs/.../a/102702a.htm

tonkagunner · 10-06-2004, 11:33 AM

some of you are really stupid about insider trading. The law says you can't profit from secret information. It doesn't matter who you are.

SD Qball · 10-06-2004, 02:31 PM

Quote:

Originally posted by tonkagunner
some of you are really stupid about insider trading. The law says you can't profit from secret information. It doesn't matter who you are.

It has nothing to do with "secret information" (and you are calling people here stupid...lol)

The main cause of action in any insider trading suit is set on the basis of wheather or not an individual acting in his or her own capacity as an officer, director, employee or sub-contracted entity acted to make a prfit based on information that had not been readily disclosed to the public prior to such an action.

Get it?

WiredGuy · 10-06-2004, 02:34 PM

Quote:

Originally posted by tonkagunner
The law says you can't profit from secret information. It doesn't matter who you are.

Even unloading such information onto a friend to do the investing can be considered illegal...
WG

10-06-2004, 11:07 AM	#1
kmanrox aka K-Man Industry Role: Join Date: Oct 2001 Location: The Gutter Posts: 29,292	SEC Violation? I'm just curious.. I don't know much about the market and its laws... Let's say that Howard Stern bought $5m worth of Sirius Satellite stock the day before he made his announcement he's leaving radio for satellite. Is that illegal? I'm assuming it is, but he's not an 'insider' so I'm not sure. What do you think or know and why? __________________ Crypto HODLr Crypto mining Angel investor

10-06-2004, 11:12 AM	#2
EscortBiz Fuck Checks, CASH only! Join Date: May 2002 Location: New York City Posts: 19,422	no hes not an insider in the company or didnt get info from an insider __________________ Spanking, Medical Fetish, Sleeping, Strap-on Anal Lesbians, Girls Fucking Guys, Handjob site REAL HOT, Shemales, Anal and Ass Licking sites 100% Real EXCLUSIVE with amazing retention, ccbill payouts, lots of content FREE FTP HOSTING Promote the largest and oldest member paid escort site, Converts 10 times better then any dating site, CCBill payouts ICQ# 158802076

10-06-2004, 11:16 AM	#3
Nathan Confirmed User Industry Role: Join Date: Jul 2003 Posts: 3,108	Its not illegal?! You sure? He is an insider by being a current of future employee or sub contractor no? Yesterday, he knew stuff the general public could not have known. __________________ "Think about it a little more and you'll agree with me, because you're smart and I'm right." - Charlie Munger

10-06-2004, 11:18 AM	#5
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	He better be careful or he will have the cell next to Martha. And can you imagine what that bitch will try to do to him?? __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

10-06-2004, 11:32 AM	#7
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10-06-2004, 11:33 AM	#8
tonkagunner Confirmed User Join Date: Mar 2003 Posts: 830	some of you are really stupid about insider trading. The law says you can't profit from secret information. It doesn't matter who you are.