legally – what’s next?, page-6

Your question as to why directors are not buying comes up from time to time jebac. But wouldn't we be worried if they were buying or selling? .. I think management is being extremely careful.

Minter Ellison (Q's lawyers?) had a case last year:

http://www.minterellison.com/publications/high-court-clarifies-the-scope-of-insider-trading-laws/

It would seem that the prohibition against buying or selling securities applies where:

""a person possesses price-sensitive information that is not generally available, and the person knows (or ought reasonably to know) that:

the information is not generally available; and

if it were generally available, the information might have a material effect on the price or value of the shares concerned.""

If a director were to resign though, or no longer be employed by the company, I'm not sure how the rules would apply then ?

All those redacted clauses in the statement of claim must surely imply privileged information? ... Just my understanding. I always find the website updates re directors holdings since 2010 very reassuring.