Some promote the worst possible view.As witnessed at the AGM the US legal counsel was present to ensure that information was presented in accordance with Securities and Exchange Commission rules.
There are those claiming that POET will not provide any news in 2014 and that is the reason Dr Taylor has sold when he did. If this was true it would be considered illegal insider trading something that this company would not entertain as it would certainly be in conflict with their long term plans and the need to maintain market integrity.
The company is on record as expecting NRE income beginning the end of 2014 and the completion of the PET PDK at 40nm in Q4 2014.
Illegal insider trading refers generally to 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.
Examples of insider trading cases that have been brought by the SEC are cases against:
· Corporate officers, directors, and employees who traded the corporation's securities after learning of significant, confidential corporate developments;
· Friends, business associates, family members, and other "tippees" of such officers, directors, and employees, who traded the securities after receiving such information;
· Employees of law, banking, brokerage and printing firms who were given such information to provide services to the corporation whose securities they traded;
· Government employees who learned of such information because of their employment by the government; and
· Other persons who misappropriated, and took advantage of, confidential information from their employers.
There are many of us that believe that there could be significant news coming and that Taylor's timing to sell now may well be to avoid the appearance of illegal insider selling. It would be far worse in my opinion if Geoff had timed his selling during a run-up inspired by big news.