if management of a public company places large amount of sell orders one second after a material non public information is published by media (e.g. company is going downhill), is that a violation?
Yes.
Can you elaborate further please? The company management placed the trade after the info went public. Not a violation?
i think you need to give reasonable time for it to reach the public before taking action ? One minute doesn’t seem reasonable.
And one second is only 1/60 as reasonable as one minute.
I understand, thanks.