• Neato@ttrpg.network
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      10 months ago

      He should have to pay a fine equal to twice what he would have earned from the stock increasing. Even if the stock plummets.

      Don’t fuck up your financial statements, dude.

        • intensely_human@lemm.ee
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          10 months ago

          This could correct itself. Now the company’s financial reports are unreliable, and the uncertainty alone should drop the value of their stock. Risk has a negative monetary value, and these financial reports are now a source of risk.

      • Kecessa@sh.itjust.works
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        10 months ago

        He hasn’t earned anything unless he sold while it’s up and that would be public information.

    • slazer2au@lemmy.world
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      10 months ago

      Maybe, but they will slap them on the wrist with a fine that costs less than they make in an hour and have a strongly worded letter sent to them saying don’t do it again.

      • ComradeSharkfucker
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        10 months ago

        So I wanted to know where the phrase milquetoast comes from bc it’s a weird word and thought I should share my findings bc it is cool.

        from Caspar Milquetoast, character created by U.S. newspaper cartoonist H.T. Webster (1885-1952) in the strip “The Timid Soul,” which ran from 1924 in the “New York World” and later the “Herald Tribune.” By 1930 the name was being referenced as a type of the meek man.

    • UndercoverUlrikHD@programming.dev
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      10 months ago

      The mistake was fixed within 24 hours and it was released during after hours when no stock trading is technically supposed to happen. It’s on you if you trade outside of the official trading hours. There are also laws protecting companies from being punished for having wrong forward looking statements. The guy in charge of the earnings presentation got fired though, so there’s that.

      https://www.bloomberg.com/opinion/articles/2024-02-14/lyft-had-a-typo

  • breadsmasher@lemmy.world
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    10 months ago

    “My bad… This was a bad error, but it was one zero.”

    Not quite… it was an error of 450 basis points. An error of 1000%