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Insider trade on Splunk acquisition?

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417 points mkmk | 1 comments | 21 Sep 23 15:58 UTC | HN request time: 0.224s | source
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YeBanKo ◴[21 Sep 23 16:37 UTC] No.37600196[source]▶
Is there any legit way in which whoever made this trade could have got a wind of a potential acquisition without relying on inside knowledge?
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arcticbull ◴[21 Sep 23 16:39 UTC] No.37600226[source]▶
Knowing about the acquisition puts you in possession of material nonpublic information. It's unlawful to trade on the basis of such information whether you work at the company or not. Passing it along is 'tipping' and acting on it is still 'insider trading.'
replies(5): >>37600298 #>>37600301 #>>37600463 #>>37600527 #>>37602209 #
1. sokoloff ◴[21 Sep 23 17:00 UTC] No.37600527[source]▶
There's a third element of insider trading: "in breach of a fiduciary duty or other relationship of trust and confidence"

0 - https://www.investor.gov/introduction-investing/investing-ba...