Avii77,
The attempt at and execution of fraud are not always the same. These sales were set up in advance based on 10b5-1 plans, but the majority of such plans (the stipulations of which are entirely up to the company that imposes them) allow insiders to sell securities in a minimum window of 30 days or less. Some as little as two weeks. Unless the SEC Form-4 states specifically, you cannot know when exactly the insiders set up the transaction and date they intended it to execute (which isn't always exact either -there is some headway in the execution).
The press release came early morning 7/2. The transactions that occurred from 7/1 - 7/3 are as follows:
Joseph Kennedy: exercised and sold $610,308 worth of securities on 7/1
Michael Kalb: exercised and sold $409,827 worth of securities on 7/1
Aaron Berg: exercised and sold $2,745,756 worth of securities on 7/2 and 7/3.
These three individuals may very well have been pressing hard for the release of information by 7/1, but it came a day late. Only a thorough probe by SEC and DOJ can, along with witness testimony, be able to ascertain all details. But it is by all appearances illegal insider trading.
We are not interested in contacting the SEC or DOJ to start an investigation, although we think other persons may. There is certainly grounds for a thorough probe here. Our goal is to advocate for our research and seek to help in whatever way we can the FDA to make a decision that will benefit all US citizens.
Regards,
-MRC
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