(ITMN PARS) 10b5-1 plans are most injurious to shareholders when insiders get wind of consequential information far in advance of when the information rises to the threshold of mandatory disclosure under existing (i.e. weak) SEC disclosure regs. iwfal noted how this game was played to perfection by insiders at PARS (#msg-17988168).
Clearly, concurrent establishment of 10b5-1 plans by multiple insiders warrants additional skepticism over and above what is warranted by 10b5-1 plans in general.
ITMN’s recent announcement is the mirror image of what happened at PARS: concurrent termination of 10b5-1 plans by multiple insiders. I’m not yet sure what to make of it, but I expect most or all of the insiders who terminated 10b5-1 plans to establish new ones in due course.
I absolutely agree with you on all counts. We spoke with lawyers who do public company securities law and they assured us the soft plans were accepted by the SEC. Makes no sense to me.
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