California  |  Securities Law

Legal Question

Asked on: 2/15/13, 12:15 pm

is it illegal for me to buy shares of the publicly traded company i work for, and if so, why. our (HR) person told us we were not aloud to do that. im just a worker , have no say in what goes on with company at all.

1 Answer

Answered on: 2/15/13, 1:12 pm by Bryan Whipple

There certainly isn't any generally-applicable securities-law restriction. In rare instances, you might be deemed to be involved in "insider trading" if you have access to important news before it's made public. Sounds, however, that you don't. It may be contrary to company policy, but I don't really understand why that might be; most employers are delighted when their employees want to become co-owners, in a small way, of the firm. I think you should ask HR for some cogent explanation, and maybe go higher up. Also if there is an employee handbook, see if it sheds any light on the matter.

Did you find this answer helpful?

0 Users found this answer helpful.

0 Attorneys agree with this answer.

Bryan R. R. Whipple, Attorney at Law P O Box 318 Tomales, CA 94971-0318

Other answers from this attorney

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

81 Answers given in the last few hours.

86611 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search