id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
cblr-1799	Greene, Edward; Schmid, Olivia	Duty-Free Insider Trading?	2013	60	.pdf	application/pdf	20317	796	49	The FSA argued that Einhorn had caused Greenlight to trade shares in a U.K.-listed company, Punch Taverns (Punch), when he was in possession of insider information. [Vol. 20 13 directed Greenlight traders to sell Punch shares on the London Stock Exchange, lowering Greenlight's holdings of Punch shares from approximately 13.3% to 9%.47 After the official announcement of the equity offering on June 15, Punch's share price fell 29.9%, allowing Greenlight to avoid losses of approximately £5.8 million.48 The FSA determined that insider information was conveyed on the conference call and that Greenlight traded on the basis of' that information in violation of U.K. market abuse rules.	cache/cblr-1799.pdf	txt/cblr-1799.txt