|Day's Range||0.00 - 0.00|
|52 Week Range|
|PE Ratio (TTM)||-3,550.00|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
A Virginia man who orchestrated a hoax takeover bid that drove up Fitbit Inc's stock price last November, yet made only about $3,000 for his efforts, has been arrested and charged with fraud, U.S. prosecutors said on Friday. Robert Walter Murray, 24, of Chesapeake, was accused of submitting a sham regulatory filing in which the nonexistent, Shanghai-based ABM Capital Ltd offered to buy Fitbit for $12.50 per share, roughly a 46 percent premium. The filing caused Fitbit's share price to rise 8 percent to $9.27 on Nov. 10, boosting the company's market value by $122 million, before the San Francisco-based maker of step counters and other wearable devices denied knowledge of any tender offer.
Activists are increasingly asking for CEOs’ heads at the outset of campaigns, a new level of aggressiveness for a group already known for its bold actions and impact on corporate America in recent years....