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Big Lots Inc. Message Board

  • yhoo_savant yhoo_savant Dec 4, 2012 11:17 PM Flag

    Big Lots CEO under SEC scanner for $10 mln March stock sale - WSJ

    why arent you guys talking about this? too fresh? Discuss.

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    • Look at the details. This is the result of pressure from the shareholder lawsuit demanding the SEC consider it; lawyers pushing to get something that would support their case. Fishman sold about $10 mil in shares on March 20 last year at $45. Why not then? That was the high and everybody who wanted to sell wants to sell at the high. They say news announced more than a month later triggered a price drop, and Fishman sold in advance to avoid it. Well- every year, there is a price drop after the spring high, there is nothing new or unique about that nor is it insider information. The "probe" is nothing other than part of the game the lawyers are pushing. I doubt it will create more than a brief effect on share price, and will not change the pattern going into spring.

      Those who don't do their homework and invest poorly are always demanding that somebody else should pay for their bad judgment, and thus lawyers get rich making trouble. Allegations are all that is required, and these people provide it.

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