Tweet
Moody's CEO Dumped Shares The Day SEC's "Wells Notice" Arrived -- And So Did Buffett!
...
We suspect Moody's investors will also be interested to know that CEO Raymond McDaniel dumped 100,000 shares of stock at $29 a share the day the Wells Notice arrived. And that Berkshire Hathaway (BRK) sold ~678,000 shares that day and another ~300,000 or so in the week that followed.
Did Raymond McDaniel and Berkshire know about the Wells Notice when they sold their stock? If so, couldn't this be trading while in possession of material non-public information? (The filing says McDaniel's sale was an "automatic sale," but even so. Shouldn't he have to cancel an automatic sale if/when he gets material non-public info?*)
it's good to be on the inside
...
We suspect Moody's investors will also be interested to know that CEO Raymond McDaniel dumped 100,000 shares of stock at $29 a share the day the Wells Notice arrived. And that Berkshire Hathaway (BRK) sold ~678,000 shares that day and another ~300,000 or so in the week that followed.
Did Raymond McDaniel and Berkshire know about the Wells Notice when they sold their stock? If so, couldn't this be trading while in possession of material non-public information? (The filing says McDaniel's sale was an "automatic sale," but even so. Shouldn't he have to cancel an automatic sale if/when he gets material non-public info?*)
Comment