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Funcom Ex-CEO Facing Insider Trading Charges

A recent article on The Escapist describes how former Funcom CEO Trond Aas is facing insider trading charges over his attempt to liquidate Funcom stock. This allegedly came shortly after a switch in his role from CEO to "Strategic Advisor to the Board and Chief Strategy Officer," which apparently removed him from Funcom's "primary insider list," making this a more low-profile sale. It also allegedly came shortly before the layoffs and a precipitous drop in their share price after poor sales of The Secret World, but according to an anonymous source quoted in the report, word getting out of Aas' stock sale is part of what caused it to lose value. Aas claims the timing was simply fortuitous, and having resigned as CEO, he new nothing about poor sales of their new game until the company issued its financial reporting. Thanks nin via Kotaku.

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8. Re: Funcom Ex-CEO Facing Insider Trading Charges Sep 16, 2012, 11:10 space captain
 
your mistake is assuming these CEOs want the company to be successful... as opposed to just making themselves rich  
Go forth, and kill!
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7. Re: Funcom Ex-CEO Facing Insider Trading Charges Sep 16, 2012, 02:57 mag
 
Cutter wrote on Sep 15, 2012, 01:06:
Isn't it simply astounding how none of these guys know how to run a successful company yet somehow, almost as by prescience, know exactly when to sell their stock? It's a wonder they can sit down with all those horseshoes stuffed up their asses. Why he should change his name to Lucky McFuckerton. Yeah, surely it couldn't be anything but luck.

It's just experience. They've killed so many companies that they know about how long they can hang out before everything explodes.
 
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6. Re: Funcom Ex-CEO Facing Insider Trading Charges Sep 15, 2012, 01:06 Cutter
 
Isn't it simply astounding how none of these guys know how to run a successful company yet somehow, almost as by prescience, know exactly when to sell their stock? It's a wonder they can sit down with all those horseshoes stuffed up their asses. Why he should change his name to Lucky McFuckerton. Yeah, surely it couldn't be anything but luck.


 
Avatar 25394
 
"The South will boogie again!" - Disco Stu
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5. Re: Funcom Ex-CEO Facing Insider Trading Charges Sep 14, 2012, 22:48 nin
 
Prez wrote on Sep 14, 2012, 22:37:
Any bets that his fine will be less than the single mom who downloaded music from torrents?

Yeah, no kidding!

 
http://www.nin.com/pub/tension/
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4. Re: Funcom Ex-CEO Facing Insider Trading Charges Sep 14, 2012, 22:37 Prez
 
Any bets that his fine will be less than the single mom who downloaded music from torrents?  
Avatar 17185
 
“The greatness of a nation and its moral progress can be judged by the way its animals are treated.”
- Mahatma Gandhi
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3. Re: Funcom Ex-CEO Facing Insider Trading Charges Sep 14, 2012, 21:05 Zarkonis
 
What a non-surprise. How much you wanna bet he'll use the money he gained from his illegal stock sale to hire a battery of lawyers that'll drag this out far beyond anyone's ability to give a shit?  
Slow and steady might not win the race at first, until you shoot everyone ahead of you.
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2. Re: Funcom Ex-CEO Facing Insider Trading Charges Sep 14, 2012, 20:46 deqer
 
"Hey guys, please play our new MMO. We know there are 20 other MMOs out there, but we felt we could get a piece of the pie; so please, play our game."

lol
 
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1. Re: Funcom Ex-CEO Facing Insider Trading Charges Sep 14, 2012, 20:42 LArac
 
NO CEO Left Behind  
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8 Replies. 1 pages. Viewing page 1.
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