The Other Shoe Drops: Insider Selling at EA is Followed by 13% Stock Drop — Stockholders Sue
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!
Cocoanut
Mar 30th, 2005
Ea is run by a bunch of crooks.
coco
[the above comment is the opinion of Coco and is not necessarily endorsed by the Herald or its staff. -Uri]
RB
Apr 3rd, 2005
haha.
I will have my own giant “i told you so” before 2005 is finished. just you wait.
JB probably has another excuse for this “not insider trading, no. more of further re-structuring of resources to trim costs and create a more efficient bettter company on several levels……..”
The man has the credibility that M.S.S had during the war. :p
- RB