Send News. Want a reply? Read this. More in the FAQ.   News Forum - All Forums - Mobile - PDA - RSS Headlines  RSS Headlines   Twitter  Twitter
Customize
User Settings
Styles:
LAN Parties
Upcoming one-time events:

Regularly scheduled events

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.

Email Digg Facebook Twitter   Share More    


 

  
   Current Headlines
Bejeweled 3 Free on Origin
Total War: ROME II Emperor Edition & Free Update Released
ArcheAge Launches; Founders Unhappy
GRID Autosport - Touring Legends Pack Released
Making of Borderlands: The Pre-Sequel Trailer
Assassin's Creed Unity Co-op Trailer
On Sale
Evening Crowdfunding Roundup
Evening Patches
Evening Previews
Evening Consolidation
Evening Mobilization
Evening Tech Bits
Evening Safety Dance
Evening Legal Briefs
etc., etc.
Into the Black
Borderlands Replaces GameSpy With Steamworks
Divinity: Original Sin Free DLC
FIFA 15 Ultimate Team Drops Coin Trade Offers
  

 



footer

Blue's News logo