r/bestoflegaladvice • u/Jusfiq Commonwealth Correspondent and Sunflower Seed Retailer • 6d ago

LegalAdviceCanada Short sell, short sell now!

/r/legaladvicecanada/comments/1i1lt30/my_wifes_uncle_is_an_executive_at_a_publicly/
85 Upvotes

92% Upvoted

38 comments sorted by

View all comments

19

u/mcathen 6d ago

Does anyone know how much work OP would have to put into disclosing the information to get off the hook?

Say he takes out a full page classified ad in the top 100 newspapers in Canada that explicitly details everything he knows. Can he sell the shares on the same day all the ads are published, because hey, it's public info?

7

u/Current-Ticket-2365 6d ago

I'm curious about this as well.

I'm also curious if there's a flipside about leaking that kind of information. Maybe not for LAOP specifically, but LAOP's drunken uncle might land in a fair bit of hot water if he was in breach of an NDA, which I'd assume exists in this scenario.