According to The Wall Street Journals “Tracking the Numbers” column, Microsoft (MSFT) told investors in SEC filings in the late ‘90s that it was complying with a specific accounting rule regarding stock-options grants. But for much of that decade the co retroactively set the grant date for its options at the lowest point for the stock over the previous month, a variation on the "backdating" practice now under investigation by federal authorities. In doing so, Microsoft likely wasn't following the accounting rule in question. As a result, Microsoft potentially misled investors and regulators when it described its option program in its securities filings.
Notablecalls: Not actinable, but good to know category.
According to the WSJ, E*Trade (ET) CEO Mitchell H. Caplan spent almost $1.5m to scoop up his co's stock after shares of the firm reached a 6-mo low. In addition, President and COO R. Jarrett Lilien reported buying 10K shares.
Barron’s Online reports that a director has snapped up a large dose of American Medical Systems (AMMD) shares on behalf of Vertical Group, a VC firm that specializes in medical technology and biotechnology. In 3 separate transactions, Vertical Group purchased a total of 650K shares for $10.6m, through general partner Richard B. Emmitt, a director at American Medical. Vertical Group now owns a total of 1.3m shares.
Notablecalls: Insider action belongs to good-to-know category for investors.
Dear Notablecalls readers. The WSJ has real entertaining piece this morning. Spend a minute reading it along with Your morning coffee. Lean back and enjoy it. Click Here.