Three businessmen with links to CEO Bobby Kotick bought $108 million worth of Activision Blizzard shares four days before Microsoft acquisition
- Thread starter supercommodore
- Start date
Would be a fantastic turn of events but sadly almost zero chance of happening.
Question: Legally, who is the problematic one is these cases, the buyers of the shares or the person who tipped them off? Meaning is there anything illegal about buying shares based off of inside information or is the criminal action the revealing of those secrets by someone on the inside?
Both. You cannot provide Material, Non-Public Information to others and you cannot act on Material, Non-Public information if it is provided to you.
They would have to prove that Kotick directly provided this information to the shareholders, and that he knew what he was doing was illegal.
And then someone would have to have the gumption to actually indict.
I say we fine them far, far, FAR less than the profits they made doing this
that'll teach em!
The options they bought needed Activision's stock to lose another third of its value for them to lose anything, after already falling from about $100 per share to ~$60, and the odds that would happen were not all that great, whether that relief came in the form of Kotick resigning, acquisition, or just better business as usual. These people are so filthy rich they can chat about it one day at brunch and buy it all on a lark.
Well if they can send Martha Stewart to jail for it, prob would be them also going to Club Fed.
They'll probably just be forced to sell the shares at whatever cost they paid and pay a small fine. Maybe if they find proof of collision it'll force Bobby out prior to the finalization of the acquisition.
Wow I thought this was another thing going on since IGN's title is uhh…something. Seemed like multiple issues, but it's just a clickbaity headline haha.
Didnt see that it was on the same day. Ya that increases the likly hood of it being insider trading.
i don't think they are
but bobby might now be having second thoughts because this investigation could potentially lead to him losing his golden parachute
That was a different time. Everything changed after the 2008 financial collapse and the Obama administration refusing to throw the book at people was what changed everything.
Cool, cool, cool.
It's so encouraging that we all know with absolutely certainty that nothing will happen to these people. /cry
If I, as a person with absolutely zero political experience or desire to be a politician, ever found myself somehow in the running for President, my platform would basically be "get me the house and senate and I will come down on the 1% like the wrath of God above. They thought it was bad pre-Reagan? Just wait."
It's so encouraging that we all know with absolutely certainty that nothing will happen to these people. /cry
If I, as a person with absolutely zero political experience or desire to be a politician, ever found myself somehow in the running for President, my platform would basically be "get me the house and senate and I will come down on the 1% like the wrath of God above. They thought it was bad pre-Reagan? Just wait."
I think in that case it was too many people to throw the book at(but they def shouldve), but I dont think this is the same as that, insider trading stuff gets people fucked all the time.