A husband and wife working from home have got into hot water after a husband overheard his wife talking about a takeover deal!
The Securities and Exchange Commission (SEC) has charged Tyler Loudon with insider trading, claiming he listened in on several of his wife’s remote calls and then used that information to his advantage. Loudon purchased 46,000 shares in the takeover target without telling his wife just weeks before the deal was unveiled. As the takeover target shares rose 70% on the announcement, Loudon cashed in making a cool $1.8 million profit.
However, the husband eventually confessed what he had done. He told his wife he had done it so she didn’t have to keep working long hours. She reported his dealing to her bosses who fired her, despite not having any evidence that she knew what he was up. She has now moved out and has filed for divorce!
It has been ventured that the case may force more US companies to look at their home working arrangements.
This article first appeared in the April issue’s fun page…
