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#1
12-16-2005, 10:07 PM
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Re: Follow up to Doyles bid for the wpt
Is it illegal to do such a thing ? I mean how would they prove this ... Seems like it would be just 100% circumstancial evidence without any witnesses.
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#3
12-17-2005, 12:04 AM
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Re: Follow up to Doyles bid for the wpt
[ QUOTE ]
Is it illegal to do such a thing ? I mean how would they prove this ... Seems like it would be just 100% circumstancial evidence without any witnesses. [/ QUOTE ] ...just ask Martha Stewart.
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#4
12-17-2005, 12:32 AM
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Re: Follow up to Doyles bid for the wpt
[ QUOTE ]
[ QUOTE ] Is it illegal to do such a thing ? I mean how would they prove this ... Seems like it would be just 100% circumstancial evidence without any witnesses. [/ QUOTE ] ...just ask Martha Stewart. [/ QUOTE ] They never proved Martha did anything like this. They nailed her on a bogus "lying to a federal investigator" charge because they couldn't make the insder trading charges stick.
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#5
12-17-2005, 12:41 AM
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Re: Follow up to Doyles bid for the wpt
[ QUOTE ]
They never proved Martha did anything like this. They nailed her on a bogus "lying to a federal investigator" charge because they couldn't make the insder trading charges stick. [/ QUOTE ] I know, just responding to the poster who asked if insider trading was illegal. okay, I change my comment to "just ask Samuel Waksal" (the guy who pled guilty to insider trading charges in the Stewart case).
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#7
12-18-2005, 08:53 PM
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Re: Follow up to Doyles bid for the wpt
[ QUOTE ]
[ QUOTE ] ...just ask Martha Stewart. [/ QUOTE ] You're ignorant. [/ QUOTE ] Indeed. A poster inquiring about the legality of insider trading could not be aided by a comparison to the most well known insider trading case ever? I do agree, though, and I thank you for your feedback.
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#8
12-17-2005, 05:53 AM
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Re: Follow up to Doyles bid for the wpt
Please tell me you are like 22 years old and that your youthfulness is why you are so naive.
[ QUOTE ] Is it illegal to do such a thing ? I mean how would they prove this ... Seems like it would be just 100% circumstancial evidence without any witnesses. [/ QUOTE ]
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#9
12-18-2005, 04:40 PM
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Re: Follow up to Doyles bid for the wpt
He can make a bid, that is fine. It is only illegal if he has no intention to actually buy the company, or if he tells his friends that he is going to make a bid before he does it, then they act on that information. If he had every intention of buying it if the shareholders accepted, I think he will be ok. To prove that he knew that someone else would act on information he provided may be tough.
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#10
12-18-2005, 10:55 PM
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Re: Follow up to Doyles bid for the wpt
Doyle is clearly the target of the investigation. Read the SEC release here. The SEC is trying to use the crime-fraud exception to pierce the attorney client privilege, which means that they are arguing to the judge that the law firm was in a criminal and/or fraudulent conspiracy with Doyle to violate the securities laws. Bottom line: SEC has already subpoenaed all trading records in equity and options for WPTE for probably 6 months prior to the tender offer, and they will track down every single sizeable purchase or sale in the ticker. Each of the individuals involved with these trades will be subpoenaed to testify as to whether they had any connection to Doyle. Some may be offered immunity deals to tesify against Doyle. If there was any improper trading in WPTE, it will be discovered. If Doyle was involved, he is going to prison.
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