Insider Trading Alleged in Intelsat Stock Sale Before C-Band Announcement
Big Intelsat investors who sold just before announcement of an FCC-run C-band auction -- an act that sent Intelsat stock tumbling -- are being sued in a complaint by Rosen Lawn seeking class action status. The complaint (docket 20-cv-02341, in…
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Pacer), filed Tuesday in U.S. District Court in Oakland, alleges insider trading by BC Partners and Silver Lake Group. Silver Lake and Intelsat didn't comment. BC Partners emailed that the sales "were executed based solely on available public information at the time and were executed in full compliance with all relevant market rules and regulations."