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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: 0s | source
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sakex ◴[21 Sep 23 18:57 UTC] No.37602311[source]▶
Let's say you live in front of the Splunk office, and you see tens of people in suits, a limo with a CISCO sticker, as well as a lot of commotion on the office in front of you. You strongly suspect something is happening, you buy $22k of Splunk calls.

Is that insider trading?

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1. sigwinch28 ◴[22 Sep 23 06:46 UTC] No.37608700[source]▶
Based on the compliance training I did this week at a hedge fund…

On the condition that you acted solely on information that was already public, or something that happened in a public place that you happened to witness as a bystander…

No, that is not usually considered insider trading.

Not a lawyer, not advice.