Question
Toby Scammel's girlfriend was briefly involved in Disney's acquisition of Marvel in 2009. Scam-mel bought 659 Marvel options for $5,465 in the days prior to
"Toby Scammel's girlfriend was briefly involved in Disney's acquisition of Marvel in 2009. Scam-mel bought 659 Marvel options for $5,465 in the days prior to the announcement of the acquisition. Within the nine days following the announcement, Scammel sold all his Marvel shares, amounting to a total of $192,496.61. While Scammel's girlfriend had mentioned general facts about a "big project" she was working on, the couple claimed that she never gave him details about the acquisition. How-ever, he had access to her electronic documents related to the acquisition and had begun piecing together the companies involved and the timing of the acquisition. Although Marvel's shares had never closed for over $42, Scammel was purchasing the shares at $50. Scammel claimed that his girlfriend had told him nothing and he had done nothing wrong; he had frequently been involved in the stock market and was simply normally trading shares as he had done before. What crime do you believe Scammel's actions led to his being charged with? Do you think there was enough evidence to warrant his conviction for that crime?"
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