Quote:
Originally Posted by calculoso
I agree. There are two variables here, the date of the sale and the date of the announcement.
Usual insider trading is that someone has knowledge and this triggers them to buy or sell so they profit. In this case, the date of the sale was planned/announced ahead of time (whichever it was), which rules out this as a potential variable.
Still, there is the timing of the announcement that the CEO could have played with. Bosses never come at their employees with unexplained, unreasonable, and unmovable dates to hit (sarcasm). If this was bad news, would have the announcement been on the same day or a few days later? We’ll never know.
Still, the timing still validly raises eyebrows, even if it turns out to be completely coincidental. Any investigation should come to the truth. All I’m saying is that the pre-scheduled date doesn’t completely absolve anyone from wrongdoing.
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Yep. This image of the CEO reviewing this press release on Sunday night, hours before he knows he will be short the company's stock to the tune of $5.6 million is pretty crazy.