CEO sells Out…
The chief financial officer of Menu Foods Income Fund says it’s a “horrible coincidence” that he sold nearly half his units in the troubled pet food maker less than three weeks before a massive recall of tainted pet food.
Insider trading reports show that Mark Wiens sold 14,000 units for $102,900 on Feb. 26 and Feb. 27. Those shares would be worth $62,440 today, based on yesterday’s close of $4.46 a unit.
That represented 45 per cent of Mr. Wiens’s units. After the sale, he still owned 17,193 units and options to purchase 101,812 units, according to insider trading reports.
“It’s a horrible coincidence, yes . . .”
heh.
Trackposted to Adam’s Blog, stikNstein… has no mercy, and Right Voices, thanks to Linkfest Haven Deluxe.
[...] MG Siegler wrote an interesting post today onHere’s a quick excerptThe chief financial officer of Menu Foods Income Fund says it’sa “horrible coincidence†that he sold nearly half his units in the troubled pet food maker less than three weeks before a massive recall of tainted pet food. … [...]
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