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Biotech / Medical : Trinity Biotech (TRIBY)

TRIB 0.910

-5.2%

3:58 PM EST

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To: DELT1970 who wrote (9688)	7/9/1998 8:57:00 AM
From: Alegzis	Read Replies (1) of 14328

Ethics Everyone's familiar with the illegal insider-trading activity of acting on inside information. Embarrassingly, I had never thought of the equally non-ethical practice of NOT acting on inside information. Until Trinity extended their warrants, that is. I hear that the phrase "no extension" was mentioned in the last conference call. Holders of B Warrants would haved presumably acted on this public (and presumably accurate) information. Which, at the time, meant either dump or wallpaper your bathroom with the warrants. However, holders of the warrants who may have known of the potential for an extension may have "acted" (or more to the point, not acted) accordingly. So, two points: I've seen class action occur whenever public information is disseminated and later found out to be false. Is Trinity exposed? And.generally speaking, since the decision to sell a security is equally as important as the decision to buy, it enthralled me to realize that half of insider activity can never be detected because the SEC cannot get into someone's head and ask "did you hold the security because you knew good news was coming?" IMPORTANT: I'm not implying in any way that non-ethical activity is occurring at Trinity. I don't even know if the officers have the right to own warrants. Rather, I'm a)fascinated by the concept of non-acting having the potential to be as unethical as acting and b)feeling a bit sorry for the Warrant B holders who sold (including myself). I'm one who's followed the company for the larger part of a decade now and continue to believe -- especially in the mid-term prospects. I won't say how many shares I own but let me put it this way: If I traded them all, there'd be a significant blip on the volume chart for the day. So I continue to hope and pray...

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