News > Microsoft Exec Sells Shares Before Warranty Extension
July 13, 2007
Insider trading is usually taken pretty seriously 'round these parts, so one has to wonder if Microsoft exec Robbie Bach's recent portfolio adjustments fall under that categorization.
According to the Securities and Exchange Commission, Bach sold off $6.2 million in MSFT stock prior to the company's announcement of an extended warranty period on all Xbox 360 consoles. The trading occurred between May 2nd and May 30th, while the aforementioned announcement was made on July 5th.
While this could be seen as a move made in preparation for the announcement, the fact of the matter is that Microsoft shares were barely affected by the announcement. A Microsoft spokesperson commented on the matter:
"Robbie Bach's past trading is completely unrelated to last week's announcement. ... [He] continues to hold a significant stake in Microsoft and remains confident in the long-term success of the company."
*Eddie R Inzauto - Senior Editor, GameWad.com
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