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Even if the execs have said information, I believe it would be legal for them to pick a team to decide when to sell more stock, where that team doesn't have access to anything non-public.

The execs can then delegate the decision to the team without the knowledge, which would be legal (I think!).



Also, they can call a press conference, tell everyone the material inside information, and then sell the shares. This is completely normal: every company does when it has material non-public information and doesn't want to wait for the next quarterly earnings report.


This situation is literally outlined in the article and GME decided against doing that.

The article really isn't very long, I suggest reading it!


I believe that is also tricky. In most companies, there are all kinds of incomplete and unreliable financial indicators mid-quarter. It's only when the accountants add it up and the end of the quarter and the auditors check it is it suitable for release to the public.

The incomplete information is considered "material non public info" which stops the execs buying shares, but it isn't considered reliable enough info for the company to publish without risk of execs being sent to prison for publishing false info.


I got the impression they didn’t have their ducks in a row to know what that info was. Just that they couldn’t meet the standard.

It’s not uncommon for a finance team to spend weeks preparing for even normal SEC filings.


I think it is still tricky. When the big boss assembles a team (which doesn’t happen normally) and asks “hey figure out whether we need to buy this stock”, it still could be construed as acting based on insider information.




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