Paul Foster

SHOWING:

1 to 1 of 1 result
  

Sort By:

Search

Filter By:

Topics

Jurisdictions

Allegations

Evidence of insider trading in Mid Ocean shares prior to take-over

Investors apparently acting on inside knowledge made a killing in the derivatives market on the last day of trading before it was announced that EXEL was buying Mid Ocean, we can reveal. The volume of contracts traded in Mid Ocean call options on the American Stock Exchange increased from an average daily volume of 30 contracts to 950 contracts on Friday, March 13 - two days before the deal was signed and three days before it was announced.