GREY:FTPLF - Post by User
Comment by
OptsyEagleon Jan 24, 2012 3:59pm
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Post# 19443535
RE: Black-listed
RE: Black-listed In CIBC panel discussions, Chad said he was "black-listed", referencing the 20% of shares he owned. Anyone know what he's referring too ? Is he presently prevented from buying/selling FTP shares ?
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Yes. Insiders are prevented from buying or selling stock within a certain time frame of material events. Material events include the release of earnings but in this case, acquisitions of new mills. I think what he was saying is that since Fortress Paper has been in a position, where it was possible to that they could consumate a new acquisition at any time, within the last couple of years, he therefore has been prevented from trading in the company stock, over that entire time period. The term for this is called "black-listed".