Peter Altman Quoted on Insider Trading Concerns Raised by Large Gathering of CEOs at Media Conference
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Akin Gump litigation partner Peter Altman was quoted by Variety in “Sun Valley Preview: What the Moguls Will Be Talking About at Billionaires’ Retreat,” an article looking at the annual Allen & Co. media retreat, which begins this week in Sun Valley, Idaho. In past years, the conference has led to some blockbuster deals that have reshaped the media landscape.
According to the article, the large number of deals in progress or winding through the courts, as well as the close quarters among so many CEOs, raises the potential for insider trading or other improper behavior. Altman, however, said there aren’t any specific rules that prohibit the private gatherings of this many corporate leaders, even if it does raise some concerns.
“People try to get access to public company information all the time through meetings with management or calls to investor relations, but the concentration of power brokers heightens the possibility of improper exchanges of information taking place,” said Altman. “That’s what’s potentially problematic.”
