Before I jump into this article we need to define another term, this term being "insider trading." As defined by moneycrashers.com "Insider trading is the practice of using information that has not been made public to execute trading decisions. It gives traders an unfair advantage over others and most forms of insider trading are illegal. Another definition of the term as SEC outlines insider trading as “buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security. Insider trading violations may also include ‘tipping’ such information, securities trading by the person ‘tipped,’ and securities trading by those who misappropriate such information.”
I have been a wrestling fan for the last twenty-three years and this has been by far an unpresented time to be a fan of wrestling. According to various news sites (first reported by Brandon Thurston or Wrestlenomics) $2.1 million shares of WWE stock were sold just hours before the WSJ report was published. Though the amount might not seem like a lot it is actually 1.5 million more than on an average day. Though it is unknown the executive/s that could've sold this amount it was likely a high ranking official due to the amount that was sold. This situation could make the report of the investigation to Vince's allegations all the more worse, because it doesn't look good. Also this could make even more of a case for S+S Attorneys at Law to prove a violation of fiduciary duty.
Though as I mentioned it isn't proven the information is clearly out there that someone may have had knowledge of the incoming report and chose to make the best of a bad situation. As of this writing WWE stock has only taken a slight hit down small percentage at $62.91 as of June 17.
The following was taken from a forbes.com article: To view the full article click here
WWE’s Prohibition Against Insider Trading
Sharing my thoughts, opinion, and historical facts on everything WWE both past and present