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Post by The Ultimate Nullifier on Dec 20, 2013 7:53:49 GMT -6
A Microsoft finance manager and his friend were indicted by Seattle federal prosecutors for insider trading in Barnes & Noble and Microsoft, according to Bloomberg. The Microsoft employee learned of Microsoft’s planned $300 million investment in Barnes & Noble’s Nook division in April of 2012. He passed word to his friend, who began buying Barnes & Noble call options and ended up netting $184,000 when the deal was announced.Bundles of $10,000 in cash were passed back to the Microsoft employee in compensation. The pair also collaborated on betting on and against Microsoft based on earnings info learned before it was publicly released. Attachments:
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