Feds Reportedly Investigating Barry Diller And David Geffen For Options Trades Ahead Of Microsoft-Activision Sale

Forbes ^ | march 08, 2022 | Mason Bissada

[ptsal]

The Department of Justice and Securities and Exchange Commission are investigating whether moguls Barry Diller, David Geffen and Alexander von Furstenberg violated insider trading laws by buying Activision Blizzard options shortly before the video game company announced an acquisition by Microsoft, the Wall Street Journal reported Tuesday—but Diller says they didn’t have prior knowledge of the impending deal.

[archived version] https://archive.ph/EfWpu#selection-3339.0-3347.80

[ptsal]

The three men purchased call options to buy Activision Blizzard shares at $40 on January 14, four days before tech giant Microsoft agreed to buy the company at $95 per share, according to the Journal, which cited unnamed sources (shares of Activision Blizzard were worth $82.31 at close on the day the acquisition was announced).

• The trades by Diller, Geffen and von Furstenberg led to unrealized profits of around $60 million, the Journal reported.

• JPMorgan Chase, through which the men arranged the transactions, reported the trades to law enforcement, according to the Journal.

Anyone wonder about the name of the banker involved in the deal? What do his phone, email, and text messages reveal?

[ptsal]

Making money the old fashioned way..../sarc

[ptsal]

One way the liberal Left funds itself and its stream of cash to make the Democrat Party and other tax-shelter NGOs move forward. Disgusting.

[qaz123]

Just like Congress.

[rktman]

“Sooner or later you’ve made enough money.” barry obxxx. Guess these assclowns haven’t reached that point yet. Nor has obxxx apparently. He needs to pay for the new digs in Hawaii. Bet he never dreamed, while getting toked up with his pals from Punahoe, he’d be where he is today. For doing virtually nothing.

[Jan_Sobieski]

Some Sodomites have all the luck,
some Sodomites have all the fame,
some Sodomites get all the breaks…

[BradyLS]

Trying to enjoy the illegal sweetheart deals Congresscritters regard as their due.

[Jan_Sobieski]

Perhaps Congress are the best people to investigate this.?.? No one knows more about insider trading than our Representatives and Senators!

[unread]

How dare they getting into that deal before congress.!!

[Herodes]

Did they actually believe they were in the US Congress? Stay in your own lane!

[tennmountainman]

Put Diller in Prison.

[ridesthemiles]

Insider knowledge is the air they breathe & exist on.

[Angelino97]

Oliver Stone's Wall Street personified such people in the character of Gordon Gekko, whose famous "Green Is Good" speech depicted him as a villain.

Yet throughout the 1980s and 1990s, many conservatives (especially of the libertarian and Objectivist bent) praised Gekko, and embraced "Greed Is Good" as their motto. It appeared on conservative merchandise, on t-shirts and mugs and such.

This past decade has seen a struggle over the meaning of conservatism; between populists who want to preserve nations and their culture, vs. hardcore free marketers who want to transform all nations into multicultural/LGBT free enterprise zones.