Originally Posted by
The The
ASIC should be investigating AJ for insider trading.
1. He sold large share parcels during company buy back, maximising his return. He would have known if and when future buy backs were planned and planned his selling accordingly. The May buy back was extended into June, just coincidentally when AJ needed cash for his new pad.
2. He sold shares whilst certainly knowing QF was being investigated by the ACCC and that the investigation and potential fines would be market sensitive information.
Come on ASIC, do your job!
There is a definite issue in that QF management would've known the ACCC was on their tail as ACCC has gained much of the information through requesting information from QF under compulsory disclosure requirements that gives ACCC access to company records when doing an investigation. QF did not disclose that they were being investigated to the ASX but management and the board were fully aware it was occurring so trading in company shares by these parties during this period may indeed breach insider trading rules.