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Economy |
Mylan CEO sold $5m worth of stock while EpiPen price drew scrutiny |
2016-08-28 |
[Guardian] Heather Bresch, the CEO at the center of EpiPen's 471% price hike, sold 100,200 of her shares earlier this month and earned more than $5m from the sale. The transaction took place on 9 August, the same day Mylan ‐ the drugmaker that manufactures EpiPen released its most recent earnings report. Mylan spokeswoman Nina Devlin told the Guardian that the sale was "part of a 10b5 plan". Typically, executives and directors of public companies who want to sell their stock establish a written 10b5 plan to do so. Most of 10b5 plans include a waiting period spanning days or weeks to avoid any suspicion of trading based on material non-public information. Simply put, 10b5 plans are used to avoid being suspected of insider trading. |
Posted by:Besoeker |
#1 Here I always thought profiteering was illegal. |
Posted by: BrerRabbit 2016-08-28 12:27 |