CCME - you guys are killing me with the talk of insider trading.
shaking my head
I studied securities law, worked in Compliance at an investment bank.
I already posted that no insider trading claim can be made unless he makes a profit (or reduces any loss) within 6 months of his trade (ie. sells his shares) and the trade was consummated SPECIFICALLY as a result of Jacky having material non-public information that would affect the share price of the stock.
With regards to the dividend being non-public info. Sure Jacky knew about forthcoming dividend. But we all knew about it. It was talked about publicly at the investor's conference and in the earnings conference call. I can easily argue that this was non-public info. Once he threw the thought of introducing the dividend out there in September at the investor's conference, it was done and couldn't be brought back as non-public.
But regardless of the argument that the dividend being public or non-public info, so long as Jacky DOESN'T SELL HIS SHARES, THERE IS NO INSIDER TRADING.
Remember that insiders buy shares all the time full well knowing that there are developments that are going to lead to higher share prices in the future, such as better sales during the current quarter and planned expansions, etc.
Please stop with the insider trading talk unless Jacky sells his shares within the next 6 months.
AI
