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 http://on.wsj.com/1gSgfVG, http://on.wsj.com/1l4bo8M
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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