As discussed in the prior post, “Legal Insider Trading?” (click here), I reached out to the SEC to get its take on the significance and implications of the assertion that corporate disclosures going out over the same PR wire service are being delivered at different times to investors. To briefly recap, a recent article by IR Web Report (click here) states that
leading PR wire services used for corporate disclosure do not deliver information simultaneously to all investors, and that “some investors, mostly professionals with access to expensive subscription services, are trading in extended hours on information they receive from companies up to several minutes ahead of most other investors who rely on public sources of information, such as company websites or popular investment websites like Yahoo! Finance.”
