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[Y!] Insider trading case focuses on Apple's secrets

post #1 of 3
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Source: Yahoo! Finance

Insider trading case focuses on Apple's secrets
Authorities announce 4 more arrests made in wide-ranging Wall Street insider trading probe


Tom Hays, Associated Press, On Thursday December 16, 2010, 7:25 pm EST

Quote:
NEW YORK (AP) -- Federal prosecutors in Manhattan broadened their insider trading crackdown Thursday, arresting four people on charges alleging that so-called "expert consultants" revealed secrets about Apple Inc.'s iPhone and other technology products to hedge funds seeking a trading edge on quarterly earnings reports.

The latest probe targeted Primary Global Research, a Mountain View, Calif.-based firm that offered consulting services to investors on industry trends, issues and regulations. Instead, prosecutors allege, firm executive James Fleishman used four consultants employed by publicly traded companies to create a corrupt clearinghouse for confidential information.
    
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post #2 of 3
This sort of trash happens all the time. It will not cease until the people that puppeteered these kinds of operations are under-arrest. Just arresting those who did the inside trading will not solve anything and will be replaced by the next scapegoat to come along.
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post #3 of 3
It's too bad the government doesn't just let the people who run Las Vegas casinos take over their system for monitoriing cheaters. They have ways to catch dang near everything quickly, whereas this probably spanned over an unreasonable length of time.
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