The M&A Lawyer, a Custody Fight and French Insider-Trading Raids (Bloomberg Law)
Mondays are never easy. But there’s one Monday morning Patrick Jaïs has been trying to erase from his memory — or at least from legal existence — for half a decade. On a sunny morning in March 2014, French investigators stormed his Neuilly-sur-Seine home west of Paris. The officers rifled through his and his wife’s mobile phones as well as his personal laptop in a raid meant to shed light on insider-trading suspicions linked to a longtime friend’s activities.
SEBI Lets Off the ‘Tipper’ in Crisil Insider-Trading Case (TheHinduBusinessLine.com)
Market regulator says case has been settled with person who used the info to trade. In a rare instance, SEBI, in an order, chose not to hold guilty a person who passed insider-trading information, saying that it had settled the same case with the person who traded using the insider information. Simply put, SEBI order with regard to insider-trading in Crisil shares took a view that it will not punish the ‘tipper’ of insider information as it had settled the case with the ‘person who used the tip to trade.’
Facebook Inc (FB) COB and CEO Mark Zuckerberg Sold $1.4 million of Shares (Guru Focus)
COB and CEO of Facebook Inc., Mark Zuckerberg, sold 7,500 shares of FB on 10/15/2019 at an average price of $188.32 a share. The total sale was $1.4 million. Facebook Inc is the world’s largest online social network. Its products are Facebook, Instagram, Messenger, WhatsApp, and Oculus. Its products enable people to connect and share through mobile devices and personal computers. Facebook Inc has a market cap of $540.78 billion; its shares were traded at around $189.55 with a P/E ratio of 32.13 and P/S ratio of 8.73. Facebook Inc had annual average EBITDA growth of 48.30% over the past five years.
A Wave of Insider Buying is Washing Over the Cannabis Sector (CantechLetter.com)
A rash of insider buying in the cannabis sector should be taken as a boost of confidence for the slumping pot sector, say analysts at Beacon Securities. In a note to clients on Tuesday, Beacon analysts point to recent buying activity from C-Suite executives from companies such as Acreage Holdings (CSE:ACRG.U), iAnthus Capital Holdings (CSE:IAN) and Aurora Cannabis (TSX:ACB).
Hubspot Inc (HUBS) CEO Brian Halligan Sold $1.4 million of Shares (Guru Focus)
CEO of Hubspot Inc., Brian Halligan, sold 8,500 shares of HUBS on 10/15/2019 at an average price of $164.48 a share. The total sale was $1.4 million. HubSpot Inc provides a cloud-based inbound marketing and sales platform which features integrated applications to help businesses attract visitors to websites, convert visitors into leads, close leads into customers and delight customers. HubSpot Inc has a market cap of $6.89 billion; its shares were traded at around $162.10 with and P/S ratio of 11.04.
18 Traders Charged in $31 Million Stock Manipulation Scheme (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has filed an emergency action and obtained an asset freeze against 18 traders in a scheme to manipulate more than 3,000 U.S.-listed securities for over $31 million in illicit profits. The SEC alleges that the traders, who are primarily based in China, manipulated the prices of thousands of thinly traded securities by creating the false appearance of trading interest and activity in those stocks, thereby enabling them to reap illicit profits by artificially boosting or depressing stock prices. For example, according to the SEC’s complaint, the traders used multiple accounts to place several small sell orders to drive down a stock’s price before using a different set of accounts to buy larger amounts of the stock at the artificially low prices.
