Posts tagged ‘MNPI’

Fork in the road

Whither Insider Trading?

A precise definition, an absolute prohibition or something in between?

Two senior hedge fund managers slip out of their insider trading convictions because the government couldn’t prove they knew whether the corporate insiders who initially divulged the tips they ultimately traded on were paid off for doing so.

Giving a bribe. Close-up of businessman giving money to another man in formalwear

Back to Basics for Insider Trading

Who cares whether the original tipper got a quid pro quo?

Todd Newman and Anthony Chiasson –hedge fund portfolio managers whose 2008 convictions and prison sentences1 for insider trading were just vacated by the Second Circuit Court in New York — can thank a Wall Street insurance analyst by the name of Raymond Dirks for their new-found innocence and freedom.

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Short-Swing Profiteers

Billionaire hedge funders play poker over an activist target

At an investor conference last December, hedge fund activist Bill Ackman spent 3½ hours explaining why Herbalife, the 33-year-old direct marketer of nutritional supplements, was nothing more than a Ponzi scheme whose stock was worthless.

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The First Ten Days of an Activist Campaign

Should the current reporting window for 5% equity stakes be closed?

Whenever a hedge fund activist like Bill Ackman, David Einhorn or Dan Loeb picks a company to attack, he quietly amasses 5% of the target’s stock and isn’t required to notify management or the marketplace of his substantial stake or mutinous intentions for 10 days.