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?

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

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.

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

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??

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

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?

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