To: CatoRenasci
Bull's-eye, my friend.
To: JohnHuang2
I remember a matter some years ago when I was practicing in NYC. The SEC wanted to investigate our client for a sale of a big block of shares a couple of weeks before the annual report was due, which had bad news in it causing the stock predictably to sink. All fire and brimstone to start off with, it turned out the guy had reached a settlement with the IRS on an audit that he needed to pay, other taxes about due, a payment due on his divorce settlement and was leveraged to the hilt. And the amount he sold was only about 3/4 of what he had to pay out, the rest he paid out of current cash flow. Needless to say, the SEC blessed the transaction and told him to go and sin no more.
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