Does that mean you got in on the action as well?
-----Original Message-----
From: Academy of Legal Studies in Business (ALSB) Talk
[mailto:[log in to unmask]] On Behalf Of Razook, Nim M.
Sent: Wednesday, February 18, 2009 1:30 PM
To: [log in to unmask]
Subject: Re: trading on inside (non-public) info
Michael - I'm almost certain you're right about no appeal. It was
actually at a track meet here in Norman. Back when Barry and I could
hear much better than we do now. nim
-----Original Message-----
From: Academy of Legal Studies in Business (ALSB) Talk
[mailto:[log in to unmask]] On Behalf Of Michael Bixby
Sent: Wednesday, February 18, 2009 12:29 PM
To: [log in to unmask]
Subject: Re: trading on inside (non-public) info
Hi Liz,
I think it is SEC v. Switzer, 590 F. Supp 756 (W.D. Okla. 1984)
involving the old Oklahoma (and later Dallas Cowboy) football coach
Barry Switzer (who still appears on TV occasionally as a commentator).
The facts, as I remember, are similar to what you recall, with Barry
taking a nap or a rest in the stands during or after a practice when he
overheared a man he did not know talking about a pending takeover. He
invested in one of the companies and made money, but he prevailed in the
SEC case against him.
I don't think the case was appealed. Is that right, Sooner experts,
Dan and Nim?
All the best, Michael
Michael B. Bixby
Professor, Legal Studies in Business
College of Business & Economics
Boise State University
Boise, ID 83725
(208) 426-3675
>>> "Ellis, Liz" <[log in to unmask]> 02/18/09 11:00 AM >>>
Can someone remember the name of the case where the Court (supreme
court?) decided that trading on inside information that was accidentally
acquired -overheard in a public place - was not illegal ? I think it
was overheard at a sports stadium or someplace like that & there was no
relationship between the tipper and tippee.
_____
Lizbeth G. Ellis
Department Head
Department of Finance
College of Business
New Mexico State University
P.O. Box 30001, MSC 3FIN
Las Cruces, NM 88003
575-646-3201 (phone)
575-646-2820 (fax)
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