Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 260.77

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Dec 24 12:59 PM EST

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To: Jerome who wrote (52827)	9/21/2001 4:02:00 PM
From: Sam Citron	Read Replies (1) of 70976

I may be a little rusty on the law of insider trading but I believe that if the janitor inadvertently picked up some inside info from an executive while sweeping his floor, he would be governed by the same "disclose or abstain from trading" rule that applies to the executive. He could be forced to disgorge any profits made trading based on possession of such information. If he discloses the information in a non-public forum, he becomes a "tipper". Tippers can be held liable, even if they do not themselves directly trade, for any indirect benefit they might derive from the "tippee". Caveat: I do not practice securities law. This is only an opinion and should not be construed as legal advice.

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