That was quick
We identified another insider purchase at SoFi
On Friday evening, we identified that SoFi's General Counsel, Robert Lavet, spent $105,000 out of his own pocket and bought approximately 5,000 SoFi shares.
As General Counsel, Lavet is one of the most informed people about the company's situation.
In fact, he is exposed to:
Discussions with regulators (SEC, the Federal Reserve).
Material contracts before their signing.
Legal status of loan portfolios.
Potential mergers and acquisitions (M&A).
He is one of the most veteran figures in the company, having accompanied SoFi since its startup days.
Although it's not millions of dollars, for a General Counsel, a purchase of over $100,000 from his personal capital in the open market is a vote of confidence.
Legal counsels are usually the most conservative regarding insider purchases due to concerns about conflicts of interest or regulatory investigations.
Such a purchase at this timing certainly raises questions...
We are monitoring