Minor league baseball player Jordan Qsar allegedly learned about Del Taco's acquisition from a friend who worked for Jack In The Box’s strategic finance department.SAN DIEGO — Three current and former minor league baseball players were indicted by federal prosecutors in San Diego for allegedly engaging in insider trading in Del Taco stocks.
Qsar, Witherspoon and Bernard illegally earned nearly $190,000 by using the inside information, according to prosecutors. In the following months, the indictment states Qsar shared the inside information with Witherspoon, and Bernard, a Valley Center High School graduate, who knew Qsar through collegiate and minor league baseball teams at Pepperdine University and the Tampa Bay Rays.
According to the indictment, following Jack in the Box and Del Taco announcing its acquisition plans on December 6, 2021, Del Taco stocks jumped in price from $7.53 to $12.51 per share, increasing 66% from the previous day's closing price.
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Source: CNBC - 🏆 12. / 72 Read more »