Supreme Court Upholds Affirmative Action Program at University of Texas. Abigail Fisher, right, with Edward Blum, director of the Project on Fair Representation, left the Supreme Court in Washington after oral arguments in her case last December. Her case argued the University of Texas, Austin, had denied her admission based on her race.
Insider Trading. Insider trading is a poorly defined concept with roots in adverse selection theory and the efficient market hypothesis (EMH). The popular notion is that insiders have an unfair advantage because they possess materially significant and non-public information â an informational asymmetry.
BREAKING DOWN 'Non-Open Market'. The most typical non-open market transactions occur when insiders exercise their options. If an insider has an option to buy a certain amount of shares at a set price, they are buying the shares from the company and not through an exchange.owever, once the shares have been purchased, the insider can sell the purchased shares into the open market. Another type of non-open market transaction is a tender offer where a corporation offers to repurchase shares from outside shareholders.