CTV.ca, april 10, 2007 wrote:The chief financial officer of Menu Foods Income Fund says it was a "horrible coincidence" that he sold nearly half his units in the pet food company less than three weeks before a massive product recall.
Insider trading reports confirm that Mark Wiens sold 14,000 units, or 45 per cent of his stock, for $102,900 on Feb. 26 and Feb. 27, reports The Globe and Mail. The shares would be worth $62,440 at current prices.
Wiens still owned 17,193 units and options to purchase 101,812 units after the sale.
"It's a horrible coincidence, yes . . ." Wiens told The Globe.
"I hold myself to the highest ethical and moral standards possible. I wouldn't do anything to imperil the high governance standards that I demand of myself or anybody in the company."
Wiens said the first reports about pet-related illnesses connected to Menu Foods products were made in late February.
However, he said that he did not hear about the issue until early March.
Dude got all Enron on that shit! Confiscate all internal e-mails immediately!