I wonder if this will result in the shareholders holding the ex-EA CEO accountable for destroying their revenue stream.
Good luck. If the SEC hasn’t already started building a case against him for insider trading, then nothing is going to happen to him. He’ll get a golden parachute and scurry off to ruin some other company.
“Selling shares before the announcement” was a pretty egregious misrepresentation. He has scheduled pre-registered sales on a regular basis because he gets paid partly in stock.
It was always going to be relatively soon after a sale of stock.
Just want to add you’re right but what pisses me off is that they still can influence decisions based on this. Let’s say his shares are sold at x day, just do some decisions before that and boom your auto sell share price is now either higher or lower. Only because it’s predetermined they still influence it and SEC now can’t do shit.
Don’t you bring facts into this! We want to be outraged!
Being serious though, they ought to be investigating whether there were any changes in those sale orders. If they’ve been the same and unchanged for the last two years or some long period of time, I don’t think there’s a case. But if they’re was an adjustment a month or two ago, that would be very problematic.
I think he might autosell his stock so that wouldn’t be insider trading, but since of the board members might.
This was a board decision, not the CEO as an individual.
They are all equally resonate and if they fire him it’s to save face and kick him as a scape goat
I think you mean a nice golden parachute to reward them for taking the heat, so they can swap in a new expensive face to implement slightly less unpopular fees.