Railroad to Texas officials: Releasing oil train reports could enable insider trading

2015-01-09T15:27:08-06:00

By Curtis Tate McClatchy Washington Bureau Originally published Jan. 7, 2015 In the latest attempt to keep states from publicly releasing information about crude oil trains, one railroad argues that the disclosures could facilitate insider trading. In a Dec. 29 letter to Texas Attorney General Greg Abbott, Kansas City Southern wrote that the state “should not disclose information to individuals that creates the potential for investment activity by individuals having non-public information.” Other railroads had attempted to block the release of oil train information by arguing it would pose a security risk or compromise trade secrets. McClatchy obtained such data, however, [...]