Baseball Players Accused Of Insider Trading On Del Taco Acquisition: Report
Portfolio Pulse from Shivani Kumaresan
The SEC has alleged that four minor league baseball players engaged in insider trading ahead of Jack In The Box Inc's acquisition of Del Taco Restaurants Inc, making approximately $190,000. The lawsuit, filed in San Diego, claims the players traded on confidential information about the $575 million deal. Jack In The Box, which completed the acquisition in 2021, has not been charged with wrongdoing. The SEC seeks to recover profits and impose fines on the players.
March 27, 2024 | 12:53 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Jack In The Box Inc, involved in a $575 million acquisition of Del Taco, faces no charges but is linked to an insider trading lawsuit concerning the deal.
While Jack In The Box Inc is directly involved in the acquisition and the subsequent insider trading lawsuit, the company itself has not been charged with any wrongdoing. This situation may attract attention to JACK shares but is unlikely to have a direct negative impact on the stock price in the short term, given the company's distance from the accusations. However, investor perception and sentiment could be influenced, warranting a neutral score.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70