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Insiders SELL for various reasons.BUT they BUY for only one reason. The know the value of the company and the stock is too cheap.There were at least 5 insiders that bought over the last year at prices significantly higher than the market is now.This stock is undervalued and the insiders know it.
Terry Jones sold 4,030,855 at $8.15 per share.http://finance.yahoo.com/q/it?s=IRDM+Insider+TransactionsFMR soldhttp://secfilings.nasdaq.com/filingFrameset.asp?FileName=0000315066-11-003450.txt&FilePath=\2011\05\10\&CoName=IRIDIUM+COMMUNICATIONS+INC.&FormType=SC+13G%2FA&RcvdDate=5%2F10%2F2011&pdf=
These shares were the same shares he bot in 2009. I'm not convinced this is a bad thing, since they are held under another entity (Not Him), i.e. Trust or wife, not a concern