Replies to post #111336 on Biotech Values

[dewophile]

i'm no lawyer but..

every company is required to notify the public of material events. it would be illegal to selectively notify someone (e.g UBS) and not the public of something material. however, banks are privy to inside information all the time as they broker deals - but they must not leak this to enable anyone to act on the information, and they of course cannot act on the information themselves (which is what i was getting at in my prior post)

[DragonBits]

rwwine, I don't know the requirements concerning a company, their underwriters and the release of material information. I would assume the MNTA would be required to tell their underwriters of any material information that they knew about, as soon as they learned about it.

But any information that the underwriters knew about could have come from a number of sources. I doubt the underwriters are required to inform anyone about information they have.

When I read the rules in the past, they aren't precise, they use words like timely release of informtion.