Tweet
“We are shocked by this alleged breach of the law and violation of our own compliance policies and ethical standards. We are fully cooperating with the authorities in this investigation.” (Blackstone spokesman)
According to the complaint filed by the Securities and Exchange Commission in federal district court in Manhattan, Mr. Chakrapani tipped off an unnamed financial analyst about the details of the deal. The analyst, named “Tippee 1″ in the complaint, then either tipped off his parents, collectively known as “Tippee 2,” or traded in an account in their name.
The scheme eventually netted about $3.6 million in profits after the tippees sold Albertson’s stock and call options, which allow the holder to buy shares at a prearranged price.
http://dealbook.blogs.nytimes.com/20...er-trading/?hp
Peanuts compared to Blackstone's $3B China sting :p
According to the complaint filed by the Securities and Exchange Commission in federal district court in Manhattan, Mr. Chakrapani tipped off an unnamed financial analyst about the details of the deal. The analyst, named “Tippee 1″ in the complaint, then either tipped off his parents, collectively known as “Tippee 2,” or traded in an account in their name.
The scheme eventually netted about $3.6 million in profits after the tippees sold Albertson’s stock and call options, which allow the holder to buy shares at a prearranged price.
http://dealbook.blogs.nytimes.com/20...er-trading/?hp
Peanuts compared to Blackstone's $3B China sting :p