SEC Investigating Place Dome Trades

Here’s some helpful advice. If you ever know about a major merger announcement coming up, do not buy up a ton of calls. People will notice.
On October 25 and 26, a client of a Swiss brokerage loaded up on calls of Placer Dome. On October, Barrick Gold made a bid for Placer Dome. The stock shot up 20%, and the calls were sold for $1.9 million.
The SEC is now investigating.

Posted by on November 3rd, 2005 at 11:52 am


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