Quote:
Originally Posted by OMG!WTF!
I think it's not unreasonable at all. All insiders of public companies have to make those decisions all the time. Actually they don't. More often than not they're made for them on the form of rules governing the conduct of sales and purchases around news releases. This happens to be an ex corporate release done by a corporate insider. It's a weird situation but given Morneau's super shady past I would easily conclude that he and Sr were talking.
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Right, there are rules and insiders simply have no choice but to follow those rules, or face prosecution. I think that it will be incredibly difficult to prove that Morneau Sr. violated these protocols though. He had sold a significant block 6 months before, and sold these in two separate transactions while the price declined in a period where it was known that a tax increase was likely.
And when did he have this insider information? Was it before the first sale in November or the second one? Why didn't he sell more shares in November if that was known?