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Microsoft Manager, Friend Accused by US of Insider Trading

Thursday, 19 Dec 2013 04:21 PM

A senior Microsoft Corp. treasury department manager and a friend engaged in insider trading ahead of company announcements to reap more than $393,000 in illicit profits, federal prosecutors said.

U.S. attorneys in Seattle and the U.S. Securities and Exchange Commission accused Brian Jorgenson, a manager in Microsoft’s corporate finance and investments division, of tipping off a friend, Sean Stokke, who allegedly traded. The scheme ran from April 2012 through October this year, prosecutors said.

Jorgenson alerted Stokke of Microsoft’s plans to invest $300 million in Barnes & Noble Inc.’s e-reader business in April of last year, according to an SEC complaint. Stokke bought $14,000 worth of call options in Barnes & Noble stock in advance of Microsoft’s announcement of the investment, which netted the pair almost $185,000 in ill-gotten profits.

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A senior Microsoft Corp. treasury department manager and a friend engaged in insider trading ahead of company announcements to reap more than $393,000 in illicit profits, federal prosecutors said.
insider,trading,Microsoft,accused
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2013-21-19
Thursday, 19 Dec 2013 04:21 PM
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