Archive for Thursday, May 27, 2010

Disney worker accused of leaking stock tips

May 27, 2010


— An assistant to Walt Disney Co.’s head of corporate communications was arrested with her boyfriend Wednesday and accused of leaking confidential stock tips about the entertainment company’s earnings.

Federal prosecutors in New York Wednesday charged Bonnie Hoxie, 33, the assistant to Zenia Mucha, and Yonni Sebbag, Hoxie’s boyfriend, 29, with sending letters in March to at least 33 investment companies including hedge funds with offers to sell confidential information about Disney.

“The integrity of the securities exchanges can be compromised not only by top executives but also by anyone entrusted with material, nonpublic information,” U.S. Attorney Preet Bharara said in a statement about the arrests.

Disney, the world’s biggest media company, said May 11 that fiscal second-quarter profit climbed 55 percent on more successful film releases, including “Alice in Wonderland.” The shares fell that day after operating profit at the television unit that includes ESPN and ABC missed analysts’ estimates.


just_another_bozo_on_this_bus 7 years, 11 months ago

Silly kids-- they apparently didn't know that insider trading is only allowed by top executives and members of the BOD.

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