Dec 10 U.S. authorities, in response to a
recently published Wall Street Journal article, are
investigating certain stock sales made by several corporate
executives, the newspaper reported, citing a person familiar
with the matter.
Authorities are probing whether several executives benefited
from share sales that occurred before bad news about their
companies hit the market, sparing them declines in the value of
their holdings, the Journal said.
The Manhattan U.S. attorney's office, the Securities and
Exchange Commission (SEC) and the Federal Bureau of
Investigation (FBI) are all probing various aspects of
executives' share sales that were reported by the Journal on
Nov. 28, according to the paper. ()
An SEC spokesman declined to comment to the Journal. The
SEC, FBI and Manhattan U.S. attorney's office could not be
reached immediately for comment by Reuters outside regular U.S.