Whisper sweet takeover targets in my ear

It was a nice weekend. We went and saw the Sharks beat the Kings, which was only the second hockey game I’ve attended this season (the lockout didn’t burn the bridge for me with the sport, but it did a lot of damage to it). Got a little done around the house. And we finally watched Serenity. We both liked it a lot. While you don’t necessarily have to watch the Firefly series to enjoy the movie, it does make seeing the movie more rewarding.

I also ran across this release from the SEC. An attorney in a law firm was handling a potential acquisition. Her boyfriend was a securities trader. The attorney had people from the office over to her apartment to work on the deal, which the boyfriend witnessed and began accumulating shares of the buyout target. Later the attorney told her boyfriend about the deal but not to use the information. He continued buying shares of the takeover target, reaping a $23,000 profit once the buyout was announced. Now he faces monetary penalties and criminal insider trading charges.

I feel sorry for the attorney, who surely is going to lose her job. Maybe they can append the title of the successful book phenomenon to “He’s Just Not That Into You But He Loves Your Stock Tips.”

(Thanks to Professor Bainbridge for the link to the article)