RE:Risky BusinessIf this is true (or something like it is true) I would argue that it is not legal.
To begin with, what about the company's fiduciary duties to its current shareholders? Sure I can see WHY such a scheme might play out, it does not follow that such a scheme is legal. It especially is not honorable (or right).
I guess the thing that so blows me away is how, in a publicly traded company, this can even occur. How can a company just shut the public (and its' shareholders) out like this? This is not about protecting a competitive advantage or trade secret or any such operational necessity. It is apparently all about simply refusing to be accountable on the most basic level.
I honestly don't know how RW sleeps at night.