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[–] BentAxel 2 points 3 points (+5|-2) ago 

He reported the sales, was all done above board. That's how we know he dumped them.

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[–] zbou 0 points 9 points (+9|-0) ago 

Haha no that's not what the law stipulates. You can't just sell and say "I have sold these in full view of the public" and be absolved if you had insider knowledge when you sold.

But to your point, good luck getting a conviction.

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[–] BentAxel 2 points -1 points (+1|-2) ago 

How's that legal work going in the Financial District Counselor?

You can't just sell and say "I have sold these in full view of the public" and be absolved if you had insider knowledge when you sold.

I'm not 100% on this but I think that's Exactly what it says. This is what the investment talking heads have been going on about for the past few days.

On Nov. 29, Brian Krzanich, the CEO of chip giant Intel (NASDAQ:INTC), reported several transactions in Intel stock in a Form 4 filing with the SEC. Fool.com


Securities Exchange Act of 1934 Form 4

Disclosure of information specified on this Form is mandatory. The information will be used for the primary purpose of disclosing the transactions and holdings of directors, officers, and beneficial owners of registered companies. Information disclosed will be a matter of public record and available for inspection by members of the public.

https://www.sec.gov/files/form4data%2C0.pdf

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[–] klobos 0 points 1 points (+1|-0) ago 

Reporting or not reporting the sales doesn't make it legit, it is whether he had information and traded on it before everyone else had that same information.

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[–] foltaisaprovenshill 0 points 1 points (+1|-0) ago 

The fact that people can't grasp this simple concept is incredibly pathetic.