Mercator21, So if I understand correctly, anyone who was asked, but not "brought over the wall" could trade, taking advantage of the knowledge? Or is the "asking" qualify as being brought over the wall because you have inside knowledge. Can they tell a friend? JL is correct about someone trading on the info. Curious on how it's done.
Thanks for the info....appreciate an experts opinion....
I'm glad you included..."These type of deals always have a way to leak from trading desks. They shouldn’t, but they do."
I do understand that trading on information that is not yet public..Is not legal, but there is lot of fog in these deals because they happen over very short time intervals...making it difficult for the SEC unless there is a pattern over time...Looking at the PPS action it was pretty clear the was major distribution going on for at least 24 hours prior to public announcement...This was not the small guys....
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