←back to thread

Insider trade on Splunk acquisition?

(twitter.com)
417 points mkmk | 1 comments | 21 Sep 23 15:58 UTC | HN request time: 0.21s | source
Show context
kypro ◴[21 Sep 23 18:16 UTC] No.37601673[source]▶
I know this isn't what happened, but what if one day I'm waiting for the bus and I over hear a guy talking on their phone about an imminent acquisition?

1. Would that still fall under insider trading even if the information was accidentally heard, and even if I wasn't 100% sure of its accuracy?

2. If I had no clear connection to the company how would it be proven that I was trading on insider information? Surely it's not enough just to say the trade was statistically unlikely, or is it?

replies(15): >>37601721 #>>37601730 #>>37601752 #>>37601767 #>>37601801 #>>37601931 #>>37602055 #>>37602097 #>>37602107 #>>37602179 #>>37602306 #>>37602419 #>>37602589 #>>37602619 #>>37602877 #
fragmede ◴[21 Sep 23 18:22 UTC] No.37601752[source]▶
How many lawyer meetings with the SEC are you willing to sit through for $10M (5 after taxes)?
replies(3): >>37601960 #>>37601985 #>>37602323 #
pc86 ◴[21 Sep 23 18:33 UTC] No.37601960[source]▶
If I've got $5M to spend on attorneys, quite a few.
replies(1): >>37602250 #
lowbloodsugar ◴[21 Sep 23 18:53 UTC] No.37602250[source]▶
I would imagine that if you are fighting the SEC then $5m isn’t very much?
replies(1): >>37602336 #
1. ◴[21 Sep 23 18:58 UTC] No.37602336[source]▶