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Message: Alaska NG pipeline 2

Re: QEC / Transero Energy

posted on Nov 27, 2008 09:52AM

Re Insider trading:

Insider trading is the trading of a corporation's stock or other securities (e.g. bonds or stock options) by individuals with potential access to non-public information about the company. In most countries, trading by corporate insiders such as officers, key employees, directors, and large shareholders may be legal, if this trading is done in a way that does not take advantage of non-public information. However, the term is frequently used to refer to a practice in which an insider or a related party trades based on material non-public information obtained during the performance of the insider's duties at the corporation, or otherwise in breach of a fiduciary duty or other relationship of trust and confidence or where the non-public information was misappropriated from the company.[1]

Correct me if I'm wrong but if Gasunoburu is not an insider (officer, employee, etc....) and he acted on information he saw on the internet ( once on the internet is it not public information - ?) it may not qualify as insider trading. The real question may be who is responsible for the information being on the internet.

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