not true...insider buys by the ceo are actually done a solid 90 days before they execute...they are regulated to strict blackout periods to ensure no insider visibility/cheating to reported quarters. Otherwise....he could buy once the quarter is over ...prior to being reported....which is not the case.
Not quite. So if STX or other party were to come knocking on FIO's door to make an offer today (for example), several days AFTER mgt bought stock at a fire-sale, would they go to jail for saying yes to a $20 buy-out?
Of course not, and only if they were tipped off to a call or trip to Salt Lake City by STX mgt (or other) would your theory apply. Bottom line: The recent swoon in FIO shares price is a primary motivator in not only triggering an insider buying frenzy - but also to bringing STX or others to the table. After all, Woz was unwilling to entertain $20 last year.........but how about now??
Not so pdx....if a bid comes in after purchase there is nothing illegal about it and FIO can and should move forward if price is reasonable. There obviously were not bids before purchase only rumors .... bids could start coming in anytime now FIO seems to be at bargain levels or at least about 2/3rds less than it was offered previously when previous management turned it down. STX call after bell could light a fire and get bidding started sooner rather than later as I doubt interested suitors are going to wait and see now CEO has made this purchase move.