WPT may not be credible

[newfant]

Just heard on CNBC that Doyle's bid to buy the WPT may not be a credible bid. WPT is investigating it. If any WPT insiders sold shares after announcement of the bid, look for some SEC sanctions and possible criminal charges against those insiders.

[RogerZBT]

Is someone alleging that there was a conspiracy between Doyle and the insiders to run the stock up? If not, why would there be possible criminal charges for selling stock on news that is already public?

[cwsiggy]

Because it is illegal to pump up a stock's price in order to dump it.

[RogerZBT]

Yes, but that wouldn't lead to criminal charges against the insiders for selling on the news.

[DesertCat]

[ QUOTE ]
Just heard on CNBC that Doyle's bid to buy the WPT may not be a credible bid. WPT is investigating it. If any WPT insiders sold shares after announcement of the bid, look for some SEC sanctions and possible criminal charges against those insiders.

[/ QUOTE ]

Let me first toot my own little horn and point out that I predicted this on the original thread. Yay me!

But one thing is unclear to me, was it ever established that Doyle was really associated with this "offer"? My memory was that he was playing in the ME, and no-one got a comment out of him. Is that true?

[newfant]

[ QUOTE ]
But one thing is unclear to me, was it ever established that Doyle was really associated with this "offer"? My memory was that he was playing in the ME, and no-one got a comment out of him. Is that true?

[/ QUOTE ]

I haven't heard anything that conclusively said that Doyle was part of the bidding team. It just seems like some yahoos who owned the stock put out their own press release and then likely sold into the spike.

[Shoe]

That's what I thought when I heard this, but not that he would be in with insiders at the WPT... more like some other gambling buddy that would be ready to sell, although I don't know why Doyle himself would ever want to take that risk.