For years, the Securities and Exchange Commission (SEC) accidentally distributed securities disclosures to some investors before the public. Mohammadreza Bolandnazar discusses this setting further, which is unique because the delay until public disclosure was exogenous and the private information window was well defined, to study informed trading with a random stopping time. Image courtesy of Mohammadreza Bolandnazar

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Image courtesy of interviewee. July 15, 2021