New Pirate Bay owner ‘insider trading’ charge
p2pnet news view P2P | Crime:- Did The Pirate Bay’s new owner, Global Gaming Factory X (GGF), indulge in insider trading?
And if so, will the action leave TPB open to criminal charges?
GGF was listed on independent equity marketplace Aktietorget and about a week ago, Aktietorget, “shut down the trading with the company’s stock after strangely large trading volumes and rapidly increased stock price – without any news released to explain the sudden interest for the relatively small company,” says The Swedish Wire, going on
“Soon after the trade was reopened on Tuesday GGF announced that the company was to acquire the filesharing site The Pirate Bay.”
By lunchtime, “the stock had gained 170 percent in value,” says the story, going on »»»
Aktietorget now suspects that the news about the acquisition had leaked ahead of the announcement. According to stock market rules, everybody must be given essential information regarding the company at the exactly same time.
“There are reasons to suspect that information was leaked”, the story has Aktietorget executiove VP Peter Gönczi telling Dagens Industri.
Gönczi will now, “start an investigation to see if the trading rules have been despoiled,” says The Swedish Wire, adding, “If the acquisition is completed, Aktietorget might start a further investigation since The Pirate Bay is suspected of committing criminal actions.”
(Cheers, Lars)
First they ignore you, then they laugh at you, then they fight you, then you win ~ Mahatma Gandhi
The Swedish Wire – Pirate Bay buyer suspected of insider trading, June 30, 2009
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