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Microcap & Penny Stocks : GLOW - Global Games, Inc. - Great Profit Potential !
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To: CO who wrote (4671)7/14/1998 11:37:00 PM
From: Bob Davis  Read Replies (1) of 8879
 
Cheryl,

Section 20A of the Securities Exchange Act of 1934, which is entitled "Liability to Contemporaneous Traders for Insider Trading", states:

"(a) Private Rights of Action Based on Contemporaneous Trading. Any person who violates any provision of this title or the rules or regulations thereunder by purchasing or selling a security while in possession of material, nonpublic information shall be liable in an action in any court of competent jurisdiction to any person who, contemporaneously with the purchase or sale of securities that is the subject of such violation, has purchased (where such violation is based on a sale of securities) or sold (where such violation is based on a purchase of securities) securities of the same class."

"(c) Joint and Several Liability for Communicating. Any person who violates any provision of this title or the rules or regulations thereunder by communicating material, nonpublic information shall be jointly and severally liable under subsection (a) with, and to the same extent as, any person or persons liable under subsection (a) to whom the communication was directed."

The SEC is actively prosecuting individual investors for violations of this law - specific citations can be found on the SEC web site.

Let me assure you that, when I get "inside information" in the course of doing my "due dil", I do not repeat it and I do not trade on the basis of it. If you do so, you are incurring really huge legal and financial liabilities....

Bob Davis
The Napeague Letter
napeague.com
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