ChoicePoint Update: Top execs sold shares before public knew

[GettysbergII]

http://www.sptimes.com/2005/02/26/Business/ChoicePoint_top_execs.shtml

ChoicePoint top execs sold shares
By Associated Press
Published February 26, 2005

ATLANTA - ChoicePoint Inc.'s top two executives made a combined $16.6-million in profit from selling company shares in the months after the data warehouser learned that people's personal information may have been compromised and before the breach was made public, regulatory filings show.

ChoicePoint's stock has dropped about 10 percent since last week when the company said criminals had duped it into allowing them access to its massive database.

ChoicePoint says the stock trading was pre-arranged under a plan approved by the company's board. Corporate governance experts say the pattern and timing of the trading by chief executive Derek Smith and president Douglas Curling raises questions.

Securities and Exchange Commission spokesman John Heine declined to say Friday whether the agency is investigating.

Smith told the Atlanta Journal-Constitution, which reported on the stock sales Friday, that he doesn't believe he did anything wrong, and asserted that he didn't learn about the breach until late December or January. Smith said that in October "we voluntarily found the breach and notified law enforcement."

[MadAsHellNewYorker]

1. and we will never see these jerks get put away for their

stupidity and insider trading...

[GettysbergII]

4. I still have hopes that one day the sheep will wake up and remember

that its government of the people, by the people, and for the people and not government of the megacorporation, by the megacorporation, and for the megacorporation. Then maybe the angry villagers will light their torches and march to surround their houses.

[MadAsHellNewYorker]

6. ahhh, dreams are so nice! n/t

[GettysbergII]

2. Choicepoint links

Great one-stop website to get the bird's-eye lowdown on Choicepoint:

http://www.epic.org/privacy/choicepoint/

Recent discussions on Choicepoint on DU:


http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=203&topic_id=325368#329883

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=203&topic_id=331359

[thecrow]

3. Here we go again

These idiots steal and collect everybody's information then lode the information to hackers but take a substantial profit before they report the hack.

Then as thousands of regular citizens have to face identity theft FOR THE REST OF THEIR LIVES, the idiots are eating cracked crab and caviar in the islands.

This stinks and I can only HOPE that it is investigated and these guys go on a prison food diet for25 to life!

[GettysbergII]

7. Even a couple years rooming with Bubba would do them a world of good

[The Backlash Cometh]

5. Didn't Bush pass a law that will allow the SEC to retaliate?