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A Dell shareholder until a few weeks ago, Mr. Rowe said he sold his shares because he was disturbed by the insider nature of the management-led buyout.
But Peter S. Kaufman, a bankruptcy expert who is president of the Gordian Group, an investment bank, said: "I'd say that this ought to have heightened scrutiny because of the insider nature of the buyer.
The "Characters," according to the building's website, "embody the creative persona of today's Hudson Square resident and the insider nature of the single-block Renwick Street".
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Despite some successes — such as a campaign directed at Wal-Mart that the nuns say led the company to stop selling adult video games — the insider-heavy nature of corporate share structures means that the Sisters of St. Francis rarely succeed in real-world terms, even when their ideas prove popular.
Mr. Douglas's public service announcement is unlikely to generate many new cases, because by its nature insider trading is something that must be kept as confidential as possible if traders want to make money.
But insiders insist the nature of the talks was far from "showdown or "clear the air" amid rumours that Pardew could be shown the door after a season of under-achievement by his side.
Not surprisingly, insiders recognize the nature of the problems and their potential for doing harm to the industry.
With various degrees of cynicism insiders understand the nature of the project, they get its ideological necessities and discursive constraints, but by now institutional limitations have become so finely tuned that resistance is futile--or actually unimaginable.
"By their very nature, criminal insider trading conspiracies are secretive, and the participants, who generally are highly intelligent and resourceful, are able to conceal their activities well and create false explanations for their trading based on material, nonpublic information," Mr. Brodsky wrote in his memorandum.
She said it showed how the nature of insider trading had changed as the public's captivation with the stock markets, and the explosion of financial information on the Internet, had led to a culture in which more people are searching desperately for the latest edge or hot tip.
Ken Lay, who sold shares of Enron back to the company in the months leading up to its bankruptcy filing, was not even charged with insider trading, perhaps because the nature of his transactions would have made it too difficult for the prosecution to prove the charge, lawyers said.
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