Insider trading in another company?
Suppose that, as an insider in Company A, I become aware of an upcoming business move by Company A that will have a huge negative impact on its share price, and a similar huge positive impact on the share price of Company B, the only major competitor to Company A. (Think just ceasing operation without any public warning.)
Clearly I can't dump my Company A stock, or short sell Company A, without violating insider trading regulations.
But can I buy a bunch of Company B? I have no insider information on Company B, or do I?
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This information is clearly "material" (large impact) and "non-public" according to the statement of the problem. Also, decisions like United States v. Carpenter make it clear that you do not need to be a member of the company to do illegal insider trading on its stock.
Importantly though, stackexchange is not a place for legal advice and this answer should not be construed as such. Legal/compliance at Company A would be a good place to start asking questions.
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