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Pastimes : Thread Morons
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To: Chris O'Keefe who wrote (2182)7/2/1998 11:05:00 AM
From: Henry Volquardsen  Read Replies (1) of 12810
 
Chris I disagree.

I am not familiar with the case of the information in the trash bin but I would think the arguement would be that once the company put the information in the trash bin it was the equivalent of releasing it to the public (after all thats where most of the stuff winds up anyway). But this is not a case of the company putting the information in a place where it is accessible. This is a case of an individual claiming to have non public knowledge and discussing it on the net. The SEC has recently made it clear that discussing something on the net is not the equivalent of a company release. They are pursuing several cases of inside information that was discussed on various discussion forums. Publishing on the web is not the equivalent of a public announcement. FWIW I discussed my compliance people about this and they said the SEC would definitely consider this a violation.

Henry
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