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Former Microsoft manager accused of insider trading

2014-03-21  |  Comebuy News

The US Securities and Exchange Commission has Brian Jorgenson, former Senior Portfolio Manager at Microsoft, insider trading indicted for. A press release of the Securities and Exchange Commission (SEC) according to he should have obtained confidential information itself before big announcements of the software group, to make stock transactions.

As Reuters reports, the Justice Department also investigated Jorgensons friend Sean Stokke. He knew before the publication of the balance sheet for the fourth quarter of Microsoft's, that the software company will invest 300 million dollars in the E-book store of Barnes and noble, and have benefited through appropriate stock purchases.

The SEC accuses Jorgenson also he have supplied Stokke the needed information, which were available to him due to his position in Microsoft's financial department. Then, they'd split the profits from the business. Their goal was to get enough money for the founding of an own hedge funds through insider trading. Together, they achieved a profit of 393.000 dollars since April, 2012.

A report of the Seattle Times according to Jorgenson stated as motive for his act of "Greed". The SEC in turn complains on publication of all profits, as well as fines for Jorgenson and Stokke unnamed.

"Our company has a zero tolerance limit against insider trading," said a Microsoft spokesman. "We have helped the Government in its investigation and dismissed the employee."

[with material by Zack Whittaker, ZDNet.com]

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