‘Enforcement 40’ for 2020
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By Securities Docket on August 21, 2021, 9:21 am
In short: Company insider (Panuwat) obtains confidential information from his employer that the firm is to be acquired. He immediately trades in the stock of a similar but unrelated company – recognizing, correctly, that news of the acquisition will lift the stocks of comparable firms. Has he violated Section 10(b) and Rule 10b-5 by misappropriating confidential […]