U.S. launches probe into stock sales by company executives: WSJ

Tue Dec 11, 2012 9:01am IST

Coal Mining In The Punjab

Coal Mining In The Punjab

In Choa Saidan Shah miners dig coal with crude pick axes and load it onto donkeys to be transported to the surface earning a team of 4 workers around $10 to be split between them.  Slideshow 

(Reuters) - U.S. authorities, in response to a recently published Wall Street Journal article, are investigating certain stock sales made by several corporate executives, the newspaper reported, citing a person familiar with the matter.

Authorities are probing whether several executives benefited from share sales that occurred before bad news about their companies hit the market, sparing them declines in the value of their holdings, the Journal said.

The Manhattan U.S. attorney's office, the Securities and Exchange Commission (SEC) and the Federal Bureau of Investigation (FBI) are all probing various aspects of executives' share sales that were reported by the Journal on November 28, according to the paper. (link.reuters.com/hyt54t)

An SEC spokesman declined to comment to the Journal. The SEC, FBI and Manhattan U.S. attorney's office could not be reached immediately for comment by Reuters outside regular U.S. business hours.

(Reporting by Sakthi Prasad in Bangalore; Additional reporting by Tej Sapru in Bangalore; Editing by Muralikumar Anantharaman)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

WTO Row

WTO Row

Some WTO members discussing customs deal without India - sources  Full Article 

Fed Policy

Fed Policy

Fed presses forward with bond buying, cites uptick in inflation.  Full Article 

Q2 Profit Slips

Q2 Profit Slips

Samsung sees tough second half  Full Article 

Chinese Economy

Chinese Economy

China should set lower 2015 GDP growth target of 6.5-7 percent - IMF  Full Article 

Default Imminent

Default Imminent

Argentina fails to reach debt agreement   Full Article 

Economy Reboots

Economy Reboots

U.S. economy back on track with strong second-quarter rebound  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage