by Alphaville Herald on 30/03/05 at 9:53 am
EA’s Vice President for Corporate Communications, Jeff Brown: “we intend to vigorously defend the company.”
Well, as much as it just kills us to say we told you so, we told you so. Several weeks ago we reported that several EA executives were dumping shares of EA stock. Insider trading? Jeff Brown said no, which made us think: yes! And surprise surpise surprise, EA now has cut their earnings estimates and the price of the stock has dropped 13%. Gee, those execs were pretty “lucky” to have sold just before losing 13% of their assets. But we aren’t the only ones to notice the *cough* coincidental *cough* insider selling followed by stock drop. Some shareholders have too. And here come the lawsuits!