Stockwatch - BCSC decides to assrape someone for dumping 5000 shares. Quote:
Mr. Launder, a mining cost analyst, was the manager of project controls for Minera Y Metalurgica Del Boleo SA de CV (MMB), a subsidiary of Baja. BCSC staff maintains that Launder was integrally involved in the preparation of a cost review for Baja's sole asset, a joint venture interest in the Boleo copper mine project. The cost review ultimately identified a projected cost overrun of approximately $246-million for the Boleo project.So because he is alleged to have dodged $2500 in losses he gets in shit with the BCSC?
The notice states that in light of the pending release of the cost review, Baja implemented trading blackout periods with respect to Baja shares, including a blackout from April 10 to April 25, 2012. During the blackout, insiders and employees of MMB, among others, were prohibited from trading in Baja shares.
The notice alleges that Mr. Launder was aware of the trading blackout, and that as a member of the team that developed the cost review, he knew about the cost overruns long before it was disclosed to the public.
BCSC staff contends that Mr. Launder engaged in insider trading when he sold 5,000 Baja shares on April 20, 2012, the last trading day before the news release pertaining to the cost review was issued. Mr. Launder sold his shares while in a special relationship with Baja, and with knowledge of the cost review before such information was generally disclosed.
I know, it's the law, but it seems they love applying the law to the tiny dicks while giving all the big dicks a pass.