We talked yesterday about reports—which he has denied—that Commerce Secretary Wilbur Ross shorted the stock of a company after reporters called him up to ask him about it; when their story about the company’s allegedly shady activities and ties to Ross came out, the stock dropped and Ross (the story goes) made a profit. Again, it seems according to Ross that it didn’t go down like that, but the point is that as an insider-trading hypothetical it is fun: If that was the story, would it be legal?
‘Enforcement 40’ for 2020
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn