Given the information below it should be crystal clear to everyone that writing, calling or requesting any corporate information of a non-public fact from a corporate insider must not be responded to by that insider and is prohibited, by Federal Statute. It is, therefore, useless to contact any CEO requesting any updated information, since if it is updated it is available through due dilligence since it is already public; and if it is not updated, it is violative for a CEO to offer the information, regardless whether the CEO states that s/he is the Public Relations Person.
In short; stop asking for information which a CEO is bound by law not to disseminate.
Simplified definition of Insider Information:
A non-public fact regarding the plans or condition of a publicly traded company that could provide a financial advantage when used to buy or sell shares of the company's stock. Insider information is typically gained by someone who is working within or close to a listed company. If a person uses insider information to place trades, s/he can be found guilty of insider trading. Insider trading is illegal when the material information has not been made public and has been traded on. This is because the information gives those having this knowledge an unfair advantage.
More inclusive definition and explanation:
inside information is any type of data that is obtained by someone not from public disclosure, but from a source within the company or a source that owes the company a duty to keep the information confidential. For example, information that is known to the company's board of directors, management, and/or employees is inside information. Inside information usually includes information about a company’s financial or market situation. It is also called as insider information. The individual who receives such information may be an officer who is entitled to access to the information, or someone within the organizational structure that comes across the information by accident or other means. Further, it is illegal for such person who receives the information to make trades based on such information.
In Provident Sec. Co. v. Foremost-McKesson, Inc., 506 F.2d 601 (9th Cir. 1974), the court observed that “The Securities Exchange Act of 1934, 15 U.S.C.S. § 78p(b) (16(b)), requires a court to presume that a shareholder who owns 10 percent of his corporation's stock has access to inside information." However, any entity, party or person regardless of the percentage owned may be liable under this Act.
1000 applicants only 2 Awards. AFTC was one of the 2. .
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