Seattle Shrink Admits That Therapy Sessions Might Not Be Best Place For Legal Stock Tips
You've got to wonder what Bill Ackman told his shrink about queso...
The SEC's complaint alleges that, in July 2015, during counseling sessions, the Zulily employee told Kenneth Peer that Zulily was going to be acquired by Liberty Interactive, a media holding company. On three occasions between July 21, 2015 and August 10, 2015, after counseling sessions with the Zulily employee, Peer purchased a total of over $28,000 of Zulily stock. The complaint alleges that, before the market opened on August 17, 2015, Zulily announced that it had agreed to be acquired by Liberty Interactive in a tender offer. By the end of trading that day, Zulily's stock allegedly had risen by 49%, with nearly 15 times the stock's average daily trading volume. Shortly after the acquisition was announced, Peer allegedly sold all of his Zulily shares for illegal profits of approximately $10,000.
Ten GRAND?! That's it? He had the dark edge and only pocketed a measly ten grand? This guy should be brought up on more charges for not comprehending human greed.
Therapist Settles Charges of Insider Trading Ahead of Acquisition Announcement [SEC.gov]
