Square insider trading rumours
Enix deal sparks impropriety talk in Japanese press.
Following yesterday’s shock announcement that Enix and Square are due to merge, speculation of impropriety within SquareSoft surfaced almost immediately in the Japanese financial press.
Specifically, SquareSoft shares have steadily increased over the past two weeks or so, culminating in an impressive fifty percent rise over ten days. This has sparked an understandable reaction by the markets and the press resulting in whispered allegations of insider trading of Square stock.
During the briefing to press, Square president Youichi Wada denied any wrongdoing within the firm, claiming that strong sales results of Final Fantasy X in the west and the positive outcome of several interviews with key Square staff were the catalyst for the spike.
Specifically, SquareSoft shares have steadily increased over the past two weeks or so, culminating in an impressive fifty percent rise over ten days. This has sparked an understandable reaction by the markets and the press resulting in whispered allegations of insider trading of Square stock.
During the briefing to press, Square president Youichi Wada denied any wrongdoing within the firm, claiming that strong sales results of Final Fantasy X in the west and the positive outcome of several interviews with key Square staff were the catalyst for the spike.
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