CBS News and Congress picks up BrandweekNRX story about Schering-Plough President dumping $28 million SGP stock.
CBS New this morning on its show "The Early Show" reported that "Congressman Bart Stupak, Chairman of the Subcommittee on Oversight and Investigations told CBS' The Early Show that they will also be looking into trading information revealing that Schering-Plough president, Carrie Cox, sold 900,000 shares of company stock worth $28 million a year before the Vytorin clinical trial was complete and seven months before it was made public, reports Koeppen.
BrandweekNRX is the only news outlet that had reported this before the story broke on CBS News, and guess where they got it?
Continued here.
2 comments:
Was that supposed to read that she dumped her stock a year "after" the vytorin clinical trial was complete and seven months before it was made public?
I don't know when the trial was complete, but I know that it was complete before it went public and that she sold her shares in April/May of '07-- meaning that a year later for the clinical to be complete would be April/May '08.
It's quite damning if that reads "a year after the vytorin clinical trial was complete" as that would mean she had a full 12 months to know of it and realize they had no defense to the public or shareholders and could see no spin was going to be enough, then sold off 900,000 shares before the public and other shareholders could find out how bad the results really were.
As the SNL "Church lady" used to say, "Well, how convenient!" Ms. Cox!
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