Regulators Step Up Probe of ATI

[Vince]

Article[/url]]Canadian securities regulators investigating insider trading at Ontario-based graphics chipmaker ATI (ATYT:Nasdaq - commentary - research) have frozen an offshore bank account alleged to contain at least $1.26 million in ill-gotten profits.

The Ontario Securities Commission alleges that Jo-Anne Chang, previously the director of investor relations, and her husband, David Stone, committed illegal insider trading through an offshore entity in 2000.


The commission believes a total of six individuals may have been involved with insider trading at ATI, including Kwok Yuen Ho, the founder of ATI, who was chief executive officer between Sept. 1, 1999, and Aug. 31, 2000.

A hearing into the alleged insider trading is scheduled to take place between Feb. 17 and March 10. If it is determined that insider trading took place, those involved may be forced to disgorge their ill-gotten gains

 

[cthellis42]

Ah, you know you've finally hit the big time when your execs finally get around to insider trading!

Now if only the US were actually prosecuting and sucking all the wealth from those who fleeced the people for trillions and slam-dunked the economy, and returned what they could to those people brutalized by their actions.

 

[BRiT]

Nice twist of words for the title. They're not probing ATI, just people who used to work for ATI. Slight difference...

 

[Dave Baumann]

This has been going on for ages - the hearing has been delayed about 4 times so far. The regulators are still scheduled to have a hearing for charges against KY Ho, who is the still the CEO, even if Orton is running the show.

 

[Pete]

Ah, you know you've finally hit the big time when your execs finally get around to insider trading!

I agree in principle, but I think it would be more accurate to say that a company hits the big time when its execs' insider trading is exposed due to greater media (and thus regulartory) scrutiny.

 

[cthellis42]

Also true.

Remember, you're not an important person unless you're subjected to a ton of media scrutiny.

 

[xGL]

This has been going on for ages - the hearing has been delayed about 4 times so far. The regulators are still scheduled to have a hearing for charges against KY Ho, who is the still the CEO, even if Orton is running the show.

Exactly - this hearing story is going on like a soap opera, nothing new really *yawn*

 

[Colourless]

We're talking Vince here, as if he's not going to twist the title to say something negative about ATI.

 

[Paul]

We're talking Vince here, as if he's not going to twist the title to say something negative about ATI.

Then again you could say the same thing about many people and Nvidia, although noone says anything.

 

[cthellis42]

Yes, but nVidia is pure evil through and through, duh!

 

[MuFu]

What's all this about step-up regulators?

MuFu.

 

[nelg]

What's all this about step-up regulators?

MuFu.

You see MuFu, in Canada when we feel that we are under the maximum possible level of regulation we “step upâ€￾ and create more .

 

[cthellis42]

when we feel that we are under the maximum possible level of regulation

No such thing. There's always room for more regulation...

 

[AlphaWolf]

KY and Betty Ho cleared.

http://www.cbc.ca/story/business/national/2005/10/14/atiinsider-051014.html

 

[Geo]

To bump a really old thread with an update:

http://apps.ati.com/ir/PressReleaseText.asp?compid=105421&releaseID=767983