geoly31, I am not a lawyer, however i would bet that if any investor acted on information that a CEO gave over a public telephone that they would be pretty safe. Unless of course the CEO told the investor that it was insider information. Otherwise the odds are IMO that an investor can assume that any information given by phone by a CEO is assumed to be in the public domain. If not... the CEO is the one who is in trouble with the SEC.
It would be interesting to hear an investment lawyer chime in on this topic.
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