The Securities and Futures Commission (SFC) has initiated proceedings against Mr. Dickson Poon, chairman of Dickson Concepts, and Equity Advantage Limited for alleged insider trading related to shares of Dickson Concepts. The SFC claims that Poon and his son, Mr. Pearson Poon, delayed disclosing important inside information about Dickson Concepts’ investment in Honey Science Corporation, leading to a seven-week postponement in public announcements. During this period, Poon allegedly purchased shares while possessing non-public information about Honey’s acquisition by PayPal. The delay resulted in significant financial gains for Dickson Concepts upon the eventual announcement of the acquisition.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR168
