Insider Trading Suspected In The Pirate Bay Sale
from the getting-weirder-every-day dept
The whole story of the supposed sale of The Pirate Bay gets odder and odder as more news comes out. Beyond the questionable business model the new owners are discussing, now comes the news that trading in GGF shares were halted prior to the transaction due to suspected insider trading. There was an unexplained bump in trading the week before the sale was announced, leading to suspicion that people were trading on non-public news. This could create more problems for GGF. On top of that, the stock exchange GGF is listed on is apparently already threatening GGF for owning The Pirate Bay, noting that it "wants to make sure that the companies that are traded on the list are managing legitimate businesses." Given the conviction against the four people associated with The Pirate Bay, their assertion is that it's not a legitimate business. Honestly, the story is somewhat surreal and feels quite like the trial itself: a lot of people not really taking things seriously.
Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
Filed Under: insider trading
Companies: ggf, the pirate bay
Reader Comments
Subscribe: RSS
View by: Time | Thread
The "no longer Broke P" is laughing all the way to his private island, leaving the "torrent faithful" looking like a but of truly played fools.
[ link to this | view in thread ]
The Pirate Bay - Opinion
[ link to this | view in thread ]
have you ever been to TPB? they use to have a section where they posted letter they received by companies asking them to remove that is copyrighted or threatening them to sue with the responses they sent. TBP staff always made fun of them in there replies.
[ link to this | view in thread ]
[ link to this | view in thread ]
Re:
They were making fun of the idiots like who, like yourself, thought TPB had infringing material on it's site.
[ link to this | view in thread ]
The simple lesson is
[ link to this | view in thread ]
[ link to this | view in thread ]
[ link to this | view in thread ]
Habius Corpus is back in effect. After all, the punishment must fit the non-crime that was committed in Sweden.
[ link to this | view in thread ]
[ link to this | view in thread ]
Re:
[ link to this | view in thread ]
It's all a bit weird yes
The only real solution to the overall stalemate is to find a way for P2P or a kindred sharing technology to generate revenue for the copyright holder of whatever is downloaded, but without requiring an actual purchase from the downloader. It'll take an apparently implausible business model to achieve that but I'd love to see -something- work.
[ link to this | view in thread ]
Re: It's all a bit weird yes
It's a left field idea.
Actually, if the insider trading thing has any legs, it might also be another one of TPB attitude things: Use the same attitude they took to copyright violation notices and apply it to the stock market. Come up with a plan, pre-buy a butt load of shares, get a whole bunch more shares as part of the "sale", and push out a bogus "business plan" that gets the market all excited for a few hours. Sell your shares off for the massive profit (they went up more than 50% in a single day), and you have all the ingredients for one of the most successful pump and dump operations.
like I said before, BrokeP ain't broke anymore, between this cash and the money they piled away offshore, TPB guys ain't going to be suffering any time soon, unless they get charged with stock fraud, which is possible.
[ link to this | view in thread ]
Re: Re: It's all a bit weird yes
According to the available information Brokep doesn't get any money out of this deal. Why would the TPB guys be involved in stock fraud? (especially when they have very little money to invest)
The business model wouldn't be based on allowing ISPs access but rather (one part of it at least) to optimize the traffic in the ISPs nets in order to reduce their costs.
[ link to this | view in thread ]
Works the Same or Better!
[ link to this | view in thread ]
Re: Re: Re: It's all a bit weird yes
Trust me - TPB guys made money, they made out good, and I wouldn't be shocked to find out they are some of the ones who pre-purchased stock in the company to make out like the bandits that they are.
[ link to this | view in thread ]
HI
[ link to this | view in thread ]
MLS
[ link to this | view in thread ]
Re: Re: Re: Re: It's all a bit weird yes
That doesn't fly. Unless you provide evidence, all you're doing is making baseless, anonymous accusations.
[ link to this | view in thread ]
reliable
[ link to this | view in thread ]