i read that suit agianst our CEO several years ago. basically he did some insider trading about 10-12 years ago, the company he was managing at that time was getting a buy out so he tiped his father and friends about it and bought some options for him self. they knew that their pps will rise 30%-40% due to the buyout and took advantage of it.
now.. who do you think got hurt in this buy out? the shorts? lol, everyone else actually benefitted from it.. so the CEO made a mistake in the past and took the opportunity to make some money and tipped insider information (he was in his 30's by then).
he got penalyzed by his actions but who does not have some skeleton in thier closet? who does not get tempted to benefit from an opportunity.
besides.. he was in a company that was bought for a much higher PPS, tells me his good at managing a company and also, im sure he learned from his mistakes making him a much better CEO. would he risk telling people lies? i wouldnt think so, not at all.
-riz
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