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Unity bosses sold stock days before controversial repricing announcement (www.eurogamer.net)

submitted 1 year ago by [email protected] to c/[email protected]

34 comments fedilink hide all child comments

Archive.org mirror: https://web.archive.org/web/20230914133443/https://www.eurogamer.net/unity-bosses-sold-stock-days-before-development-fees-announcement-raising-eyebrows

This shit can't be legal. Do we have any lawyers on here?

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[–] [email protected] 13 points 1 year ago (2 children)

Could he have timed the announcement around his sales, or would that be something that legal would have to have ensured wasn’t happening?

If this was ongoing and regular for years then yeah it’s nothing. If there are protections in place to ensure announcements aren’t timed around the schedule then that’s even more nothing (as long as it can be proven that procedure was followed).

It still seems like a system that can easily be manipulated, but yeah if it’s legal then it’s legal and there really can’t be any punishment regardless of ethics or optics…

[–] [email protected] 6 points 1 year ago

Certain types of scheduled announcements usually have insider trading blackouts associated with them automatically, like quarterly earnings reports.

But you ABSOLUTELY can time other announcements favourably around your predefined transactions.

[–] [email protected] 3 points 1 year ago

Damn that’s a good question. I honestly don’t have an answer. I’m not high enough level to that type of validation. Basically I have enough knowledge to insider trade but not enough to influence a decision such as changes in pricing or when something will launch.

I have windows in much I can sell and have to schedule my sales in those windows six months in advance.

It’s really stupid since I’m trading small dollar amount. 20k a year give or take but the company I work for takes it seriously.