Re: The PNP Debentureholders extention again?
in response to
by
posted on
Feb 11, 2015 05:36PM
It is not illegal to be privy to insider information, it is illegal to trade with that knowledge.
I would argue that in this case, NOT trading (i.e., "liquidating") the most valuable stock in your portfolio, in spite of a breached debt covenant -- because you received an inside tip to hang on a bit longer -- is the equivalent of acting upon inside knowledge. If that is what is happening, of course.