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Strategies & Market Trends : Tech Stock Options

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To: j g cordes who wrote (27665)	11/2/1997 12:10:00 AM
From: J R KARY	Read Replies (1) of 58727

Jim a corporation should timely disclose intentions to buy/sell its securities , but ... I am unaware of any formal SEC requirement to report intention only the actual buy/sell . I suspect market fluctuations due to the announcement preclude reporting . A lack of ethics surely arises with a "insider" who is solely aware of the intention and acts on it . I have never seen a insider report reflecting option activity and wonder if there is a loophole...er "reporting defect" ? Mr. Gabelle (CDA Investnet) poses a "reporting defect" where a insider buy/sells knowing that SEC disclosure will influence the stock price . A further "defect" would be where the company has quietly acquired options to use them to compensate the insider for influencing their stock price . In my past life I was taught this is conspiracy yet the polite stock market term remains "defect" , and if you keep asking questions the loophole will eventually be called unethical , but never criminal. Regards, Jim K.

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