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Friday, September 25, 2009 2:24:06 PM
The law is quite clear that anyone, anyone, in possesion of material non-public information may not trade on that information; in practical terms what this means is that if you have material non-public info about a company, you may not trade in its stock until you are no longer in possession of such info (i.e. you have to wait until the info has been made public).
It seems safe to say, after reviewing their conversion activity and in light of the 4.99% limit on their holdings, I see no evidence that YA has limited their trading activity.
Any legal analysis I post is not a formal legal opinion and may not be relied on by anyone for any purpose. If you want legal advice you can rely on, hire a lawyer.
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