Author Topic: FOXA - Twenty-First Century Fox Inc  (Read 15939 times)

Foreign Tuffett

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Re: FOXA - Twenty-First Century Fox Inc
« Reply #30 on: June 14, 2019, 06:20:55 AM »
So Rupert Murdoch buys 600,000 shares between June 5th and June 7th. He then immediately sells them with the following comment: "The subject shares have been purchased in error, which purchase has been deemed inadvertent and the subject shares were promptly sold. Any short swing profit resulting from the erroneous purchase and subsequent sale will be returned to the Issuer."

Yesterday, this was filed:

Someone correct me if I'm misinterpreting this, but it looks like Rupert, feeling bullish, inadvertently violated an arcane provision of a "Rights Agreement" when he bought more Class A shares. Now it's been amended to allow him to do so. It's going to be interesting to see if he buys more shares in the open market in the near future.