RE: <<Interesting idea, and the track record of the leakages of info is AUTOMATICALLY document now!>>
Thats right. In a previous complaint to SEC about another stock, I documented how stock prices were falling even though analysts had a strong buy recommendation. I also documented, after the stock had sold off, analysts switched from a strong buy to a hold. Sure enough, a few days later the company pre-announced. The internet left a trail and I followed it. I vociferously complained to SEC, but I still havn't heard back from them. That is why it helps to have numerous complaints.
Below is an excerpt from the SEC chairman speaking earlier today.
It looks like they are starting to get the picture.
WASHINGTON -- Securities and Exchange Commission Chairman Arthur Levitt said he was troubled by an apparent increase in insider trading by analysts.
In a speech to a conference of securities lawyers here Friday, Mr.
Levitt said he was "concerned about one increasingly worrisome form of trading on the basis of nonpublic information." That trading, he said, appears to occur when a company tells news to some of its "favorite Wall Street analysts" before the news is made publicly available. "In the interval -- after the analysts know the news, but before the public knows it -- there is a great deal of unusual trading," Mr. Levitt said. "Well, it doesn't take Oliver Stone to imagine how that might come about." |
