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Executives’ Good Luck in Trading Own Stock
ABy SUSAN PULLIAM and ROB BARRY
A timely share sale by two insiders at retailer Body Central Corp. BODY -1.44% this spring spared them a nearly $1.4 million drop in the value of their holdings in the chain.
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Bloomberg News
From left: Big Lots CEO Steven Fishman, Body Central Chief Merchandising Officer Beth Angelo and VeriFone Systems CEO Douglas Bergeron
Founder Jerrold Rosenbaum and chief merchandising officer Beth Angelo, his daughter, sold a combined $2.9 million of Body Central stock on May 1, May 2 and May 3. Later on May 3, after the market close, the company cut its 2012 earnings estimate. The next trading day, the stock plunged 48.5%.
via Executives’ Trades in Own Stock Raise Questions – WSJ.com.