Ragman ...check trading on insider ( non public ) information. JL forgets that this is 2018 ...not 1918. If Cantor Fitz's tells asset managers to sell now and then buy back once they announce the offering ...expect jail time for those involved ...if caught . Does it happen ...yes How ?... an example from personal experience during the dot com days . Group of friends / investors meet once a week for dinner out . The Dot com start up guys were always broke . This went on for about a year , then one night the the chk arrived and the Dot Com guys said .. " We're paying for everyone." We asked ...how come They said "can't say " Next week their company was bt out