Trading on inside information is not a basis for liability unless the information is material. “Material information” generally is defined as information for which there is a substantial likelihood that a reasonable investor would consider it important in making his or her investment decisions, or information that is reasonably certain to have a substantial effect on the price of an issuer’s securities. Material information can be positive or negative and can relate to virtually any aspect of a company’s business or to a type of security.
Material information does not have to relate to an issuer’s business. For example, in Carpenter v. U.S., 484 U.S. 19 (1987), the Supreme Court considered material certain information about the contents of a forthcoming newspaper column that was expected to affect the market price of a security. In that case, a Wall Street Journal reporter was found criminally liable for disclosing to others the dates that reports on various companies would appear in the Journal and whether those reports would be favorable or not. Insider Trading: A Primer | Katten Muchin Rosenman LLP
The rule also sets forth several affirmative defenses or exceptions to liability. The rule permits persons to trade in certain specified circumstances where it is clear that the information they are aware of is not a factor in the decision to trade, such as pursuant to a pre-existing plan, contract, or instruction that was made in good faith. Insider Trading | Investor.gov
What are you saying won’t make a lick of difference. Medinah insiders have been selling restricted shares for decades without repercussions. If you are an investor here it requires an acknowledgement of the shady characters running the show along with the belief that the value of the underlying asset will outshine these sleazebags.Auryn may not be doing enough to promote shares of MDMN (why would anybody who’s in the process of buying shares) but they are doing a decent job in cleaning up the mess.
Les spews “inside information” to participants on this board every time he opens his mouth. If you buy shares after he tells you “this week” you would be guilty of what you are claiming Auryn is guilty of. However, it’s usually Les selling his shares to the shareholders who he’s feeding info to so, in many ways, its worse.
Only thing that matters at this point is resolution and that should start with details coming out of the recent meetings. If anybody doesn’t like how MDMN or Auryn has conducted themselves, take the initiative and go after them. Most of us are just looking for an exit from this investment and an ability to disassociate ourselves from men like JJ and Les. There’s no detergent powerful enough to remove those stains
The only events that will move the MDMN share price upward is MDMN being sold to Auryn, or, exercise of the option. All other supposed “actions” will not have any permanent positive impact on the share price.
Thank you Kevin and others who worked/working on the new site.
I have a request for those with new aliases, would you please let us know what your alias was on the old board. Part of trying to discern who’s posts to pay more attention to, is knowing your past posting. I am specifically wondering who wrapitup is, as well as krik, but it would be nice to know who everyone who changed there name used to be if you don’t mind.
Not you Baldy, yours is close enough.
I am outputlevel from the original site, mhill312 from the last one, and now I am the KING OF PAIN. I don’t go on IHUB, nor will I. Censor me if you wish, but it makes you all look like jerks.
On that note Mike, I was HDX on the old site but for some reason this site wouldn’t let me use that name. Just FYI. Current alias- couldn’t help myself
I’m using DonD here because after following him on the other site and seeing what a great guy he is, I figured I just couldn’t do better than using his user name here.
