Shiva the Destroyer? Sounds like a good person to put in charge of convincing people to not cancel their policies. Or, in charge of Marketing to ask for more production.
So Ryan made an investment choice based on “inside information” that turned out not to be so good? Was it legal/illegal to have been advised such information? Was it legal/illegal to act on such information be it good or bad?
Not sure I’d be wanting to make a civil case about incorrectly acting on inside information? You watching this Justice Department?
Your remarks are aimed at publicly traded companies, and the regulations associated with the SEC. I don’t see that clearly identified here. Perhaps, you know more about this company.
There might be some merit regarding your remarks IF the company was listed on a public exchange. My guess it was a private deal. Moreover, companies are constantly purchasing back their stock, but being lied to to remove an angel is wrong with regulated or not regulated.
Yes, Martha Stewart was found guilty of Insider Trading and did go to prison. Insider trading involves regulatory definitions regarding the SEC and publicly traded companies.
It appears the company startup was not a SEC-stock exchange regulated transaction.
Sounds like the Ryans did get played, but still had a remarkable ROI – turned $1.5M into $9.3 in 4 years…….only Hillary can make those kind of investments….
Poor, poor Pat. He invested $1.5M in 2006. The company bought back his shares 4 yrs later for just under $10M. I feel so bad for him….. he really did get hosed in that deal.
Only a multi-millionaire would file a suit for not making enough money on a deal. An $8M gain on a “struggling” investment is just so awful for the Ryans. I would love to see proof of illegal activity. Pat is a genius, so not sure how he could have gotten hoodwinked here.
Your remarks indicate naiveté about such stuff, and maybe some animus against Mr. Ryan. Mr. Ryan was lied to, and I guarantee other parties were involved in getting him ‘out of the way’.
“SWIN’DLE, verb transitive To cheat and defraud grossly, or with deliberate artifice; as, to swindle a man out of his property.”
I’ve seen nothing in the article that indicates Mr. Ryan did anything improper. Maybe you have something to share?
Ummm, no. I am not naïve and don’t have any animus against Mr. Ryan. He’s one of the great giants of our E&S business. Whether he was lied to or not, we shall see.
Why is everyone surprised. It is the 1% right to make as much possible. It matters not if insider information was capitalized upon. Let’s face the 1% or “job creators” and I’m sure Mr. Ryan put that 9.3mm to good use by buying another house, car, yacht, furs, diamonds or what ever.
By filing a suit, he is guaranteeing full employment for high price lawyers. I bet they created a bunch of new jobs.
Shiva the Destroyer? Sounds like a good person to put in charge of convincing people to not cancel their policies. Or, in charge of Marketing to ask for more production.
Does this sound like a good Chicago story or what? Lots of crooks and corrupt people in that area.
So Ryan made an investment choice based on “inside information” that turned out not to be so good? Was it legal/illegal to have been advised such information? Was it legal/illegal to act on such information be it good or bad?
Not sure I’d be wanting to make a civil case about incorrectly acting on inside information? You watching this Justice Department?
Your remarks are aimed at publicly traded companies, and the regulations associated with the SEC. I don’t see that clearly identified here. Perhaps, you know more about this company.
There might be some merit regarding your remarks IF the company was listed on a public exchange. My guess it was a private deal. Moreover, companies are constantly purchasing back their stock, but being lied to to remove an angel is wrong with regulated or not regulated.
Bingo, it was a private investment given to the company when they were first launching in 2006. Insider trading does not apply here.
It would be no different than if one partner in an LLC fleeced the other one.
Ryan’s investment team should have done a little more homework before agreeing to sell back the shares though…
They were buying back ‘private shares’, not sure that insider information would apply.
Sounds like it was a privately-held company, in which case the information is not considered “inside”.
Dave, did Martha Stewart go to prison for using inside information or did I miss something?
Yes, for a public company.
Yes, Martha Stewart was found guilty of Insider Trading and did go to prison. Insider trading involves regulatory definitions regarding the SEC and publicly traded companies.
It appears the company startup was not a SEC-stock exchange regulated transaction.
Sounds like the Ryans did get played, but still had a remarkable ROI – turned $1.5M into $9.3 in 4 years…….only Hillary can make those kind of investments….
Poor Pat Ryan…more and more he looks and sounds like Hank Greenburg! What’s next, suing the federal government?
Poor, poor Pat. He invested $1.5M in 2006. The company bought back his shares 4 yrs later for just under $10M. I feel so bad for him….. he really did get hosed in that deal.
Poor Pat Ryan…the older he gets, the more he behaves like Hank Greenburg…sue, sue, sue. Who is next, the federal government?
Only a multi-millionaire would file a suit for not making enough money on a deal. An $8M gain on a “struggling” investment is just so awful for the Ryans. I would love to see proof of illegal activity. Pat is a genius, so not sure how he could have gotten hoodwinked here.
Your remarks indicate naiveté about such stuff, and maybe some animus against Mr. Ryan. Mr. Ryan was lied to, and I guarantee other parties were involved in getting him ‘out of the way’.
“SWIN’DLE, verb transitive To cheat and defraud grossly, or with deliberate artifice; as, to swindle a man out of his property.”
I’ve seen nothing in the article that indicates Mr. Ryan did anything improper. Maybe you have something to share?
Ummm, no. I am not naïve and don’t have any animus against Mr. Ryan. He’s one of the great giants of our E&S business. Whether he was lied to or not, we shall see.
620% return in four years
Why is everyone surprised. It is the 1% right to make as much possible. It matters not if insider information was capitalized upon. Let’s face the 1% or “job creators” and I’m sure Mr. Ryan put that 9.3mm to good use by buying another house, car, yacht, furs, diamonds or what ever.
By filing a suit, he is guaranteeing full employment for high price lawyers. I bet they created a bunch of new jobs.
Hooray for American greed.