Lending Tree

Lending Tree Exec To Plead Guilty

iac.gifDavid Anderson is a constant disappointment when it comes to insider trading. In the first place, the former LendingTree senior vice president apparently didn’t grab any money for himself. Second, he allegedly tipped off his girlfriend. (Do women still go for the whole stock-tip seduction thing anymore?) Third, she made something like less than $8,000 from his tip that IAC/InerActiveCorp was going to acquire LendingTree.
And now he doesn’t even fight the charges. Word comes today that he’s agreed to plead guilty to making false statements to the SEC. This isn’t even proper insider trading. It’s Martha Stewarting–getting caught for lying when questioned by the feds. Oh well. He’ll have up to five years in some white collar prison to consider exactly where he went wrong.

Former LendingTree exec to plead guilty
[Charlotte Business Observer]
Earlier on DealBreaker: Itty Bitty Insider Trading.

Itty Bitty Insider Trading

iac.gifIt wouldn’t be Tuesday if there wasn’t an insider trading scandal to blog. Today’s candidate: Charlotte-based Lending Tree SVP of Biz Dev, David Anderson, who has been indicted on six counts of obstruction of justice, making false statements and witness tampering. Anderson tipped off his girlfriend about Lending Tree’s acquisition by Barry Diller’s IAC Interactive in 2003, and she made $7,895 on trading it.
Tipping off your girlfriend: Now that just strikes us as a failure of the imagination. Only $7K? An appalling lack of ambition. If Anderson wants to play with the big boys in the really chi-chi minimum security federal penetentiary, he’s going to have to get in a lot more trouble involving a lot more money. (Also: he needs to dump the girlfriend.)
Lending Tree Executive Charged with Insider Trading [MarketWatch]