Earlier this year,
Inventec was
raided as prosecutors began looking for evidence to support charges of alleged
insider trading, and now it looks like nine of the firm's employees could be headed to the slammer. Taiwan's Banciao District Prosecutors Office "alleged that nine executives and one lower level employee failed to publicly reveal a steep drop in
iPod orders until after they had sold off nearly $22.4 million worth of stock," and although the employees knew of the order cuts as early as January 19th, nothing was publicly revealed until mid-March. Purportedly, prosecutors "are seeking the stiffest penalties against the two top executives," and if the evidence sticks, we have all ideas that Inventec will be huntin' a new Chairman (and President, too) in the not-too-distant future.
[Via
TUAW]
http://rohitbrt.blogspot.com/
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