ChoicePoint Execs Sold Shares After Breach

[Jon8503]

By Harry R. Weber, AP Business Writer
ChoicePoint's Top Two Executives Sold Shares Before Breach Was Made Public, Filings Show

As far as I am concerned, if Martha Stewart can go to jail for $40,000.00, for what these guys did, it should be a lot longer.

ATLANTA (AP) -- 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 announced that criminals had duped it into allowing them access to its massive database.

Alpharetta, Ga.-based 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.

http://biz.yahoo.com/ap/050225/choicepoint_1.html?printer=1

[Deja Q]

1. Vile. They need to be held accountable.

But this is America, home of the corporation and land of the CEO. They'll get away with their disgusting doings.

They're another solid reason why the stock market is a stupid system to live by. NO FUCKING ACCOUNTABILITY. They make a mistake and they simply cash out before everything tumbles and waltz out the door. Just like Enron and others. Sickening. Utterly sickening.

[Fovea]

3. Come the revolution

All these pirates of the corporatocracy go up against the wall.

When our economy is wiped out, and after the shooting dies down, the execs of EU, Russia, China, and India will come to our collective fire sale. You will see them buying and selling the skulls of Lay, Skilling, Cheney, et al on Ebay for momentii morii.

[indepat]

5. There is no f***ing accountability whenever Repugs are involved eom

[The Backlash Cometh]

2. agree. good post.

[Junkdrawer]

4. If they contributed to Democrats, they will be hung out to dry...

If they contributed to Republicans, they'll walk.

That's how it's gone to date...