Itty Bitty Insider Trading

Author:
Publish date:

It 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]

Related