An̈d there you have it, all wrapped up with a bow Yesterday pjecan responded to Sumpineh's comment about releasing news so the CEO could get a few more pennies "a pathetic stretch of the imagination to run down the CEO "
He filed after the close today. The trust sold 11,700 shares on Monday, 41,600 shares yesterday, and 44,000 shares today.
I have to question the ethics about releasing fluffy news while simultaneously selling stock.
At the very least it's "slippery".
I can't imagine these sales impress the five other directors and senior officers who were likely pressured to buy stock in the issue at 80 cents that closed on July 22 are impressed.
I wouldn't be.
Pierre Carabin, Andre Mainella, Ben Naccarato, Mark Paterson, and Paul Rajchgod all bought stock.
Now that Pascali has filed, it seems to me he's given them the green light to go ahead and sell theirs as well.
The optics couldn't be worse if a bunch of insiders sell stock at a loss four months after buying it via a private placement.
Pierre