05.28.10
Gemini version available ♊︎Corruption Around Microsoft Shares Settled
The company which made corruption a standard
practice, a ‘norm’ to merely be settled
Summary: Pequot to settle for $28 million after illegal behaviour (inside trading); new shuffles at Microsoft after an inside-trading president, Robbie Bach, left the company
THE Pequot case is one that we previously covered in [1, 2, 3]. This case of fraud — just like Microsoft's fraud and Novell's fraud — ends up being settled (which is often an implicit admission of guilt).
Pequot Capital Management and its chief executive, Arthur Samberg, agreed to pay $28 million to settle the SEC’s charges that the firm traded shares of Microsoft based on insider information.
As a side note, now that Microsoft struggles to reinvent itself [via] and key people are leaving [1, 2], we happen to find out that “MSFT switches E&D CFO Mindy Mount to online services,” according to Tartakoff who reads many Microsoft insiders’ comments. It’s truly a game of musical chairs after the inside trader Robbie Bach left this company. █
“Behind every great fortune there is a crime.”
–Honor de Balzac