Some Execs Scored Big As Company Values Plunged
from the cheating-execs dept
The San Jose Mercury News looked at a bunch of technology companies that have lost almost all (if not all) of their value, and then cross-checked that with how much their executies cashed out with and discovered that many technology execs made millions of dollars while their companies collapsed. The more you look at it, the more these look like giant ponzi schemes, where your everday investor got scammed big time. Of course, this shouldn't be a huge surprise to most people, but if you wanted to see some of the actual numbers, the Merc has them for you.
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told ya so
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Huh?
Much as the merc wants to find a villain in all of this, it's the way the world works -- there's no evidence of fraud here. The "victims" who bought the stocks in soon-to-be-worthless companies are what facilitated this. If the company really misstated the financials, the disgruntled investor could file a civil action. But in most cases, they were shitty companies and it was all in 10Q if you bothered to read it.
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Re: Huh?
They didn't sell their options. Neither they nor the "exploited" employees could sell the options they held or exercise them before the option date. Of course they were worthless by then.
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Re: Huh?
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