9621 Agnes Crossing, Lake Suzanneview, New Mexico Island 84604-9295.
The information of listed companies and listed companies is available to the public and investors make trades based on this information. Investing using confidential business information or trade
The information of listed companies and listed companies is available to the public and investors make trades based on this information. Investing using confidential business information or trade secrets is called ‘insider trading’ and is prohibited. Tesla investor Michael Perryfiled a lawsuit against Elon Musk, claiming he had committed such a trade.
According to Perry’s claim, Elon Musk in 2022 He claimed that Tesla realized it would not be able to meet its fourth-quarter targets for car sales and as a result sold billions of dollars worth of stock. This situation caused losses for other investors.
According to the complaint filed in court, Musk sold Tesla shares worth 7 billion 530 million 113 thousand 926 dollars at the time. Afterwards, the investor wondered whether Musk made the same sale after the announcement of the quarterly figures. 55% less He claimed he would make money.
Still on this issue neither Perry nor Musk There was no statement from their representatives. The lawsuit documents also referenced Musk’s statements during a 2023 investor meeting. In this call, Musk said direct data can be found on daily vehicle orders and production. The file also states that Tesla was in power at the time in production and delivery logistics It was highlighted that a change allowed Musk to access important and non-public information about Tesla’s fourth quarter production and delivery figures.
Under normal circumstances, markets have some accepted standards. Symmetry of information is important in public transactions and purchases. Information symmetry is the realization that everyone has equal access to information. When employees or owners of companies trade with information unknown to others, this hinders equal opportunities in the marketplace. Therefore, it is prohibited to carry out insider transactions. Therefore, such transactions are considered information misuse under the law. Although it varies from country to country, the punishment for this crime can be a prison sentence or a fine.
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Source: Web Tekno
Alice Smith is a seasoned journalist and writer for Div Bracket. She has a keen sense of what’s important and is always on top of the latest trends. Alice provides in-depth coverage of the most talked-about news stories, delivering insightful and thought-provoking articles that keep her readers informed and engaged.
