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SEC Investigating Suspicious BlackBerry Trades

Feb 6, 2015, 8:21 AM by Eric M. Zeman
updated Feb 6, 2015, 5:05 PM

The Securities and Exchange Commission has launched an investigation into trades of BlackBerry stock around the time a report suggested Samsung might buy the company. On January 14, Reuters reported that Samsung planned to buy BlackBerry for as much as $7.5 billion. Just ahead of that report, someone purchased options for 200,000 shares of BlackBerry stock at $10. After the report was published, BlackBerry's stock surged by 30% reaching highs of $12.60. According to Reuters, if the purchaser was able to sell the shares he or she could have profited as much as $490,000. BlackBerry and Samsung later denied the report and BlackBerry's stock tumbled back down to below $10 per share. The SEC is looking into whether or not Reuters' source deliberately planted the story in order to manipulate BlackBerry's share price, which would be illegal. BlackBerry and Samsung have partnered together to encourage businesses to buy Samsung's handsets and use BlackBerry's device management software. At the moment, that's the extent of their relationship.

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mobilemadness

Feb 6, 2015, 12:15 PM

SEC Investigation

I wonder when the SEC is going to investigate the mysterious Wall Street shorting of United and American Airlines stock the week before 9-11? I read that there was something like 1,000 times the normal "puts" on those particular stocks. 😲 http://911research.wtc7.net/sept11/stockputs. html

gfondeur

🤣
That's a good one

jinx7676

Feb 6, 2015, 9:32 AM

*buy

🙂

Rich Brome

Thanks! Fixed.

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