article thumbnail

Alberta Securities Commission Cease-Trades Retroactive Poison Pill

JD Supra: Mergers

In Re Greenfire Resources Ltd, the ASC allowed an Application to cease-trade a shareholder rights plan (Rights Plan) that had been adopted by Greenfire Resources Ltd. Greenfire) in the absence of a formal takeover bid and in direct response to the. By: Blake, Cassels & Graydon LLP

Trading 167
article thumbnail

eBay enters trading card commercial agreement with Collectors, acquires Goldin

TechCrunch: M&A

As eBay continues to invest in the trading card space, the e-commerce company announced Wednesday three significant commercial transactions with Collectors, the parent company of PSA (Professional Sports Authenticator), the third-party authentication and grading provider in the collectibles industry. All rights reserved.

Trading 289
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

“Shadow Trading” is Insider Trading: Jury Establishes Liability in Historic Shadow Trading Case

JD Supra: Mergers

On April 5, 2024, a jury found Matthew Panuwat civilly liable for insider trading in violation of federal securities laws in a first-of-its-kind “shadow trading” case (also referred to as “sympathy trading”), which was commenced by the U.S. Securities and Exchange Commission (SEC) on August 17, 2021.

Trading 172
article thumbnail

SEC Prevails in Novel "Shadow Trading" Insider Trading Trial

JD Supra: Mergers

The Securities and Exchange Commission ("SEC") won at trial in its first "shadow trading" case, holding a corporate official liable for insider trading for using nonpublic information about his company's acquisition to trade in securities of a third-party company that was not involved in the acquisition. By: Jones Day

Trading 172
article thumbnail

New Insider Trading Precedent: Time To Update Insider Trading Policy

JD Supra: Mergers

Panuwat”), in which the SEC alleged shadow insider trading, in violation of the federal securities laws. Pfizer”) to trade ahead of the news for his own enrichment. Matthew Panuwat (“SEC v. The SEC’s complaint alleged that Panuwat used highly confidential information of his employer, Medivation, Inc.’s

Trading 177
article thumbnail

The 20 greatest trading innovations

The TRADE

Order and/or execution management systems (OEMS) Kicking off this whistle-stop summary as the number one most impactful innovation in the industry is the order and/or execution management system (OEMS) – the beating heart of trading desks around the world. CLS Coming in at number three is the multi-currency settlement system, CLS.

Trading 119
article thumbnail

New Statute of Limitations Impacts M&A and International Trade Compliance

JD Supra: Mergers

New developments in international trade laws will have tangible and far-reaching impacts on transactions as well as day-to-day business operations. President Biden’s signing of HR 815 means that once time-barred historic events are now fair game. By: Benesch

Trading 308