Is my recollection correct, i.e., that Sabrina's dad accumulated a healthy nest egg by using inside info he picked up while driving the Larrabees about? If so, maybe a remake could include his arrest and prosecution for insider trading.
shareI think that was in the remake in '95. i don't think that ever came up in the ’54 version.
jtb01
You're probably right. I just watched most of the original and didn't spot it.
shareIt's not considered insider trading for a number of reasons -- first and foremost is that Larrabee industries was a conglomerate NOT engaged in stock trading. They were themselves a publicly held company and when the chauffeur heard Linus talking about stocks, neither of them was buying for trading. Linus was buying for himself. The information was not going anywhere.
Additionally, chauffeur was not in the industry = and while the actual definition changes from state to state, there was never ever any evidence of impropriety.
No. Insider trading was clearly not an issue. At all.
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Insider trading consists of trading in a public company's stock by any individual with access to material non-public information about that company. I'll have to watch the remake again to learn if Sabrina's father's trading meets that definition. If it was Larabee stock he was trading and he gleaned material non-public information about it by overhearing Linus's conversations, then he was in violation. In the original, Linus orders a number of shares to be given to Sabrina, which would have been worthless unless she could sell them in the market. Thus, it was a public company. Whether it was a conglomerate is not relevant.
shareI haven't seen the remake. I was talking about his buying stock based on what he'd overheard in the car driving Mr. L. to work. If he heard Linus say, "buy 100,000 shares of xyz -- it looks good" and the chauffeur bought on the basis of that, it's NOT insider trading. at. all.
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"It looks good" is not material non public information. If you learn that someone you consider an astute investor believes that "GE looks good" you can safely buy GE without fear that the SEC will come after you. So, whether Sabrina's father ran afoul of the law I'd have to see the remake again and whether it gives any clue as to what he actually heard Linus say.
shareomg. shut up already. wtf cares. we were talking about insider trading and what would be considered such.
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All true but laws may have been changed since 1954
share