This is getting some buzz on Google Buzz (even the Scoble is commenting!) Apparently, people who run publicly traded companies have to be careful about what they say in public: who knew? Also, in a sign of journalistic excellence, Techcrunch edited it out of the video. I'm sure that will mollify the SEC. My favorite comments from the Buzz thread:
"Robert Scoble - At all the public companies I've worked for this is an instant fireable offense. Will be interesting to see if she survives. I bet she will since they just invested $300 million in her, but I love that Techcrunch already deleted the offending piece of video." 3:32 pm
"Linda Lawrey - That won't negate the legal ramifications if anyone pursues it. But I think it was just a dumb statement, with no ill intent. However, if it affects the stock, then ill intent isn't the deciding factor." 3:37 pm
"Brad McCarty - And therein lies the problem.@Manan is asking me on Twitter whether pub companies should never be allowed to assure that investors will do well. The answer, of course, is that no they can't do that. Legal definitions don't change according to context." 3:38 pm
Did Arianna Huffington use stage to engage in market manipulation of AOL stock?
This morning at TechCrunch Disrupt, president and editor-in-chief of The Huffington Post Media Group, Arianna Huffington, in a “Fireside Chat” made an interesting and possibly illegal statement concerning the stock of AOL.
A Twitter search of “AOL Stock” features a stream of similar Tweets concerning Huffington’s statement.
Interestingly the video of Huffington’s statements have been cut off at the point where Arrington enters the stage.
That said, it could be argued that that Huffington is engaging in market manipulation concerning AOL’s stock.
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