Global Insider-Trading Ring Linked to Trial of Pharma CEO’s Son (Bloomberg Law)
The criminal trial of a New York man may help explain how tens of millions of dollars in illicit profits were allegedly generated by a global insider-trading network that included a Greek pharmaceutical executive, a Goldman Sachs Group Inc. banker, a Monaco poker player, a Swiss trader and a Manhattan restaurant owner. Telemaque Lavidas is the first of the accused to go before a jury in the U.S., where prosecutors say he was one of the people feeding information into a network of traders on several continents. His trial starts Monday in federal court.
Monday 1/6 Insider Buying Report: CAG, FLXS (Nasdaq.com)
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy – they expect to make money. So let’s look at two noteworthy recent insider buys. On Thursday, Conagra Brands (CAG)’s Director, Craig P. Omtvedt, made a $1.36M buy of CAG, purchasing 40,000 shares at a cost of $33.99 each. Bargain hunters can snag CAG at a price even lower than Omtvedt did, with the stock trading as low as $33.41 in trading on Monday – that’s 1.7% below Omtvedt’s purchase price. Conagra Brands is trading up about 1% on the day Monday. Before this latest buy, Omtvedt made one other purchase in the past twelve months, buying $668,250 shares for a cost of $26.73 a piece.
Atricure Inc (ATRC) President, CEO, & Director Michael H Carrel Sold $777,018 of Shares (Guru Focus)
President, CEO, & Director of Atricure Inc., Michael H Carrel, sold 23,546 shares of ATRC on 01/02/2020 at an average price of $33 a share. The total sale was $777,018. AtriCure Inc is a medical device company. It develops, manufactures and sells cardiac surgical ablation systems designed to create precise lesions, scars in cardiac, heart, and tissue. It generates revenue by selling disposable surgical devices.
What Did This CEO Just Do with Personal Shares of Ebix (NASDAQ: EBIX)? (Analyst Ratings)
Yesterday, the Chairman & CEO of Ebix (EBIX), Robin Raina, sold shares of EBIX for $1.47M. This is Raina’s first Sell trade following 5 Buy transactions. Based on Ebix’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $147 million and quarterly net profit of $20.51 million.
Longfin CEO Settles Fraud Action (HedgeCo.net)
(HedgeCo.Net) Longfin Corp. CEO Venkata S. Meenavalli has agreed to pay $400,000 in disgorgement and penalties to resolve the SEC’s fraud action against him. The settlement, which remains subject to court approval, concludes the SEC’s actions against Longfin, its CEO, and three other individuals in which the SEC has secured over $26 million of ill-gotten gains. The SEC intends to establish a Fair Fund to distribute money received from the defendants to harmed investors. The SEC’s complaint alleged that Longfin and Meenavalli obtained qualification for a Regulation A+ offering by falsely representing in public filings that the company was managed and operated in the U.S.
