Menu Foods CFO sells off shares before recall

[geisha]

Did anyone else read the Globe & Mail business section this am? The CFO Mr. Weins sold 45% of his shares in Menu Foods in late February just prior to the public announced recall of menu pet foods. He sold his shares for over $100,000. Disgusting disgraceful, despicable!!!!

[hazelrunpack]

Ooooo, naughty, naughty! If it's true, hope they nail him.

[TeriM]

I agree, I'll bet he's gonna get his butt kicked over that one .

[Prin]

Oooo insider trading! Bad move CFO man.

[hazelrunpack]

Makes you wonder why they do stuff like that since it seems so easy to find out who's sold what... Do they think no one will notice?

[x.l.r.8]

From what the news was saying, it's apparantly "unfortunate timing".
To me it soulds like very fortunate timing, in fact you couldn't be more fortunate than just before disaster strikes. :sad:

[geisha]

Interesting how the Globe & Mail has the gumption to print this, while the Edmonton Journal hasn't mentioned anything about it. I think some newspapers don't want to upset their advertisers. Hmmm
Anyway sorry I'm off topic

[~michelle~]

disgusting the things people can do for a dollar

[One Beagle Girl]

I hope Menu Foods goes under. I hope it takes the CFO with it!

[mafiaprincess]

It was on the major news channels tonight.

[rainbow]

I hope Mr. Weins gets nailed to the wall for this.

[Shamrock]

Mr Weins says it's all "a horrible coincidence"

Apparently, it's a common practice to routinely sell shares at certain key times.
"Suspected" motivations could be extremely hard to prove.

http://www.animalperson.net/animal_p...ck_sales_.html
This site covers these points, as well as offering an intriguing time line of events:

February 20-Menu received its first reports of problems with its products.

February 26-Menu begins testing on 50 live animals.

Shortly thereafter, some of the animals die (we're not sure exactly when).

February 26 and 27-CFO Mark Wiens sells 14,000 shares for $90,000.

March 16-Recall announced.

April 10-The other half of Weins' shares is now worth $54,000, so the share price has dropped almost 40%.

----
"Horrible coincidence"? We'll likely never know. :sad:

[Prin]

Nothing is ever a coincidence when money is involved....

[kathryn]

I'm hearing lots about how it looks like alot of this was done on purpose.

Personally, I wan't to see the people who tested the tainted food on the innocent animals go down as much as I want the people who killed the pets to go down. I mean ... yes, lets feed poor innocent lab cats/dogs some tainted food and see what happens


I know this was some big scandle~conspiracy!

[worrier]

what an idiot, he will use up every penny of the cash he got for those sales on lawyers. smooth move