Apple (AAPL) Analysts Targeted in Insider Trading Probe
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Price: $334.76 +0.45%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
Revenue Growth %: +15.8%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
Revenue Growth %: +15.8%
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Analysts who cover Apple Inc. (NASDAQ: AAPL) are being investigated fro insider trading by the Securities and Exchange Commission for insider trading practices linked to channel checks with the suppliers, according to a report from the Wall Street Journal.
There have been no analysts charged in connection with the probe, but the SEC is looking to broaden its view of what constitutes insider trading.
"Insider trading basically comes down to where you know or ought to know that the person from whom you're getting this information has a duty to someone else to keep it confidential," said Paul Atkins, former commissioner for the SEC. "If you go in and pay the mail clerk to give you special information, that's not proper."
The probe into the Apple analysts is focused on how they contact suppliers to get an indication of how business is doing, a practice that is common surrounding Apple as the company is notably secretive about future plans and production figures.
There have been no analysts charged in connection with the probe, but the SEC is looking to broaden its view of what constitutes insider trading.
"Insider trading basically comes down to where you know or ought to know that the person from whom you're getting this information has a duty to someone else to keep it confidential," said Paul Atkins, former commissioner for the SEC. "If you go in and pay the mail clerk to give you special information, that's not proper."
The probe into the Apple analysts is focused on how they contact suppliers to get an indication of how business is doing, a practice that is common surrounding Apple as the company is notably secretive about future plans and production figures.
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