re: [Confirmed] QF removing [cheap] ASAs [from web booking engine Jun 26-was]10April
'Insider trading' is enshrined within legislation with penalties that range from fines/restitution, disqualification from certain positions and to imprisonment. The relationship between QF and media outlets is contractual, so I would take that if a media person took advantage of things that s/he knew from the changes, depending on the agreement I guess either cancellation of tickets through to potential loss of employment eg. if QF advised the person's employer. Joe Average will have no claim against QF or the media persons.
Trying hard to make sense of this.
WRT 'insider trading' - the phrases and wording you are referring to are in respect to the provisions of the
Corporations Law, yes? Can't see relevance here. Post you quote I think was pretty obviously referring to the use of 'insider trading' in the colloquial sense - using information gained while in a privileged position for personal gain. Not the particular circumstances covered by the Corps Law.
How on earth is there a 'contract' between the media and Qantas, even if used in the colloquial sense? Even if there was, who enters into the contract on behalf of 'the media'???
Qantas does stuff, media report on it, in various ways, ranging from ignorant to informed; thoughtful to mindless; constructive to destructive. If a private briefing, Qantas can 'embargo' certain press releases and most media will respect that - if they don't, they won't get invited back to a Qantas briefing.
Most media (now using media in a broad sense) are bound by a code of ethics, but people like bloggers mostly aren't. A breach of ethics is between the media person and his/her employer and possibly the Press Council. I don't think 'cancellation of tickets' will come into it.