Most Successful SEC Whistleblower In History Says SEC Listens (Forbes)
Barron’s reports famed Madoff whistleblower Harry Markopolos is unhappy the U.S. Securities and Exchange Commission hasn’t paid him for his work. Markopolos recently published a report accusing GE of fraud and claims he has filed 9 other SEC whistleblower complaints yet has never received a financial award. Says Barron’s, “There are whistleblowers who have gotten paid- just not Markopolous.” Happily, my experience with the SEC differs starkly from Markopolos.
A Director at INTL FCStone Inc. (NASDAQ: INTL) is Buying Shares (Analyst Ratings)
Yesterday, a Director at INTL FCStone Inc. (INTL), Scott Branch, bought shares of INTL for $400.6K. Following Scott Branch’s last INTL Buy transaction on March 18, 2014, the stock climbed by 18.0%. In addition to Scott Branch, 2 other INTL executives reported Buy trades in the last month.
Wednesday 8/28 Insider Buying Report: DISH, W (Nasdaq.com)
On Friday, Dish Network’s Executive Vice President, James Defranco, made a $9.35M purchase of DISH, buying 300,000 shares at a cost of $31.18 a piece. So far Defranco is in the green, up about 5.8% on their purchase based on today’s trading high of $32.98. Dish Network is trading up about 1.6% on the day Wednesday. Before this latest buy, Defranco purchased DISH at 24 other times during the past twelve months, for a total cost of $9.96M at an average of $29.74 per share. And at Wayfair, there was insider buying on Friday, by Director Michael Andrew Kumin who bought 29,000 shares at a cost of $109.75 each, for a trade totaling $3.18M. Before this latest buy, Kumin bought W on 2 other occasions during the past twelve months, for a total cost of $2.07M at an average of $96.48 per share. Wayfair is trading up about 5.2% on the day Wednesday.
Insider Buying Vs. Insider Selling: What Numbers Really Matter For Traders? (Benzinga)
While many Americans associate the term “insider trading” with illegal activity, company insiders are free to buy and sell shares of their own company’s stock, provided they follow disclosure laws. Illicit insider trading occurs when a company insider trades after gaining meaningful non-public information about the company, or if an insider buys or sells shares of stock without disclosing the trades via Securities and Exchange Commission filings. A Ramp In Insider Selling: Company insiders whose compensation includes shares of stock can’t be faulted for selling those shares and raising cash periodically. However, traders watch closely for changes in patterns or unusual insider trading activity.
An Admission of Insider Trading has Cost a Former Company Director 75-thousand Dollars (NZCity.com)
Eoin Johnson must pay the money to the Financial Markets Authority in lieu of a penalty. The FMA says that payment, and Johnson’s admission, mean there’s no need for a court case. Johnson is a former director and chairman of NZX-listed dietary supplement company Promisia Integrative Limited. Johnson bought more than 2.5 million shares in the company soon after resigning in 2016. The FMA says he possessed sensitive sales information that had not been disclosed to the market – and the shares rose significantly in value.
An Insider at CVD Equipment (NASDAQ: CVV) is Selling Shares (Analyst Ratings)
Today, an Insider at CVD Equipment (CVV), William Linss, sold shares of CVV for $8,750. The company has a one-year high of $6.71 and a one-year low of $3.29. Currently, CVD Equipment has an average volume of 10.01K.
Jagan to Expose Insider Trading in Amaravati! (GreatAndhra.com)
The YSR Congress party government headed by chief minister Y S Jagan Mohan Reddy has started exposing the “internal trading” allegedly done by the Telugu Desam Party leaders in and around Amaravati, before it was declared as the capital city by N Chandrababu Naidu government in September 2014. The Anti-Corruption Bureau authorities, following instructions from the Jagan government, seized several documents from Mangalagiri sub-registrar office pertaining to land transactions done just before the announcement of capital city at Amaravati.
