An employee of Restoration Hardware must appear before the SEC to give sworn testimony in its investigation into possible insider trading involving her husband, a federal judge in San Francisco ruled today.
In May, Lena Yan, Read the rest of this entry »
The Securities and Exchange Commission said today it has filed an action to force Oakland resident Lena Yan, an analyst in the finance department at Restoration Hardware, to provide sworn testimony in its investigation into possible insider trading involving her husband in Restoration Hardware stock in November 2007 shortly before news of its acquisition became public.
According to a filing the SEC made today, Yan’s husband, Read the rest of this entry »
Most of us have shared certain economic hardships recently — high gas prices, falling home values, diminished 401(k) balances. A subset of us have been dealing with foreclosures and job losses, problems that many of us can easily empathize with. Here’s one that may take a bit more of an imaginative leap: the margin call.
This week Howard Lester, the chief executive of Williams-Sonoma (ticker:WSM), the San Francisco-based retailer of deluxe goodies for our kitchens, living rooms, bath rooms and nurseries, was forced to sell Read the rest of this entry »
When Ciriaco “Eric” Rivor of Millbrae learned in mid-2007 that his company, the Corte Medera-based home furnishing retailer Restoration Hardware, was about to be acquired by a private equity firm at a “substantial premium”, the former finance vice president passed the confidential, non-public information to friends Emmanuel Axiaq of San Carlos, Calif., and Steven Lusardi of San Jose, according to allegations leveled by the Securities and Exchange Commission Tuesday. Rivor also told Emmanuel Axiaq to pass the information to his father, Francis Axiaq of Millbrae, according to the SEC complaint.
That last bit of advice was probably especially unwise, in retrospect. Read the rest of this entry »
The former president and chief executive of Genesis Microchip and a friend of his were charged by the Securities and Exchange Commission with insider trading in the company’s shares in the midst of confidential merger negotiations between Genesis and STMicroelectronics, one of the world’s largest semiconductor companies.
Genesis CEO and San Jose resident Elias Antoun allegedly bought shares of his companies stock in the brokerage accounts of a relative and a friend shortly after the company received a letter of intent Read the rest of this entry »
Ariba President Kevin Costello filed his third stock sales plan in a year Tuesday, according to a filing Thursday with the SEC.
The plan was written to comply with Rule 10b5-1 that allows executives to Read the rest of this entry »
One of Robert DeVincenzi’s first acts as chief executive of LaserCard was to buy 8,000 of the company’s shares with his own money. At $6.89 a share, the bill came to $55,115. Since then the company’s stock price has fallen nearly 19 percent. After hitting a more than three-year low Monday of $5.50, they closed at $5.58.
The shares he bought were in addition to Read the rest of this entry »
Investors didn’t seem pleased by the news that SuccessFactors of San Mateo announced it would sell up to 7.5 million more of its shares to the public in an underwritten offering barely six months after its initial public offering, and the first business day after its shareholders meeting Friday. Its shares fell 71 cents, or 6.6 percent, to $10.74. It was the stock’s biggest drop since January. Read the rest of this entry »
A chief executive paying money to buy his own company’s stock is rare enough, but when he violates its code of ethics in the process, we’re talking news.
We took two top executives at eHealth to task back in August when we noted that neither its chief executive, Gary Lauer (he’s the gentleman in the center of this photo from Nasdaq), nor its chief financial officer, Stuart Huizinga, owned any shares of company stock, despite having made millions exercising options and promptly selling them.
Well, Lauer now has something in common with other eHealth shareholders: He actually owns shares of the Mountain View Internet seller of health insurance.
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