Former Financial Manager of Phoenix Company Charged With Insider Trading (HedgeCo.Net)
(HedgeCo.Net) A complaint, filed in the United States District Court for the District of Arizona, alleges that Quentin Louis Wilcox, of Gilbert, Arizona, sold Avnet stock short and bought Avnet put options shortly before the company’s April 27, 2017 press release announcing disappointing sales for third quarter 2017 and guidance for fourth quarter 2017. As a financial manager for budgeting and forecasting, Wilcox allegedly had access to the confidential information in Avnet’s earnings announcement before it became public. Using this confidential information, Wilcox’s trades netted him approximately $55,000 in profits.
Legal Insider Trading Unlocks Hidden Opportunities (BanyanHill.com)
SeaWorld is a happy place. Many of you know that. The company’s original San Diego park opened in 1964. It’s on 21 acres along the shore of Mission Bay. The initial $1.5 million investment drew 400,000 visitors in its first year alone. Today, SeaWorld also has parks in Orlando, Florida, and San Antonio, Texas. And SeaWorld Entertainment Inc. (NYSE: SEAS) owns nine more theme parks, including names like Busch Gardens, Aquatica and Sesame Place.
Court Rules Internal Affairs Doctrine Bars California Insider Trading Claim (NatLawReview.com)
California, unlike the federal government, has codified its prohibition on insider trading. Corporations Code Section 25402 provides: “It is unlawful for an issuer or any person who is an officer, director or controlling person of an issuer or any other person whose relationship to the issuer gives him access, directly or indirectly, to material information about the issuer not generally available to the public, to purchase or sell any security of the issuer in this state at a time when he knows material information about the issuer gained from such relationship which would significantly affect the market price of that security and which is not generally available to the public, and which he knows is not intended to be so available, unless he has reason to believe that the person selling to or buying from him is also in possession of the information.”
A Director at Blonder Tongue Laboratories (NYSE MKT: BDR) is Buying Shares (AnalystRatings.com)
Today, a Director at Blonder Tongue Laboratories (BDR), James Nj Williams, bought shares of BDR for $67.6K. Following this transaction James Nj Williams’ holding in the company was increased by 36.47% to a total of $435.7K. Based on Blonder Tongue Laboratories’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $5.44 million and GAAP net loss of $742K. In comparison, last year the company earned revenue of $5.36 million and had a GAAP net loss of $63K. Currently, Blonder Tongue Laboratories has an average volume of 897.
Federal Jury Convicts Hermosa Beach Man in $550,000 Insider Trading Conspiracy (TBRNews.com)
A Hermosa Beach man was found guilty of conspiracy to engage in insider trading by a federal grand jury in Chicago, authorities said Wednesday, April 17. Eric Weller, 54, was also acquitted on three counts of securities fraud, said Joseph Fitzpatrick, spokesman for the U.S. Attorney’s Office in Chicago. He faces a maximum sentence of five years in prison and was ordered to return to court for sentencing on July 10.
Thursday 4/18 Insider Buying Report: SCYX, GABC (Nasdaq.com)
On Wednesday, SCYNEXIS (SCYX)’s Chief Executive Officer, Marco Taglietti, made a $40,750 buy of SCYX, purchasing 25,000 shares at a cost of $1.63 each. SCYNEXIS is trading up about 0.6% on the day Thursday. Before this latest buy, Taglietti bought SCYX at 3 other times during the past year, for a total cost of $61,000 at an average of $0.81 per share. And on Monday, Zachary W. Bawel purchased $2,107 worth of German American Bancorp (GABC), purchasing 71 shares at a cost of $29.68 each. Before this latest buy, Bawel bought GABC at 3 other times during the past twelve months, for a total cost of $10,578 at an average of $31.11 per share. German American Bancorp is trading off about 0.3% on the day Thursday.
