It is what you know

Two articles from today’s Journal, but one topic.

“Flurry of Allergan Trades Preceded Bid,” and “Insider Cases’ Legal Basis Questioned, Wall Street Journal, April 23, 2014 C1,

The first looks at the suspicious rise in volume of trades in Allergan prior to disclosure of a takeover bid.  Round up the usual suspects.  The second raises questions about the SEC’s theory in insider trading cases and whether not only must you know the information is ill-gotten, but you must also get that information in return for something.

So, how you got it matters more than the information.  Go figure.

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Filed under Compliance, Controls, Governance, Information, Internal controls, Legal, Ownership, Third parties, Uncategorized

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