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: ClassLawBlog.comNew York AG Investigates Arbitron Insider Trading
By classlawblog
According to the Wall Street Journal Law Blog, New York Attorney General Andrew Cuomo is investigating whether Arbitron executives improperly sold stock before announcing news which hurt the company’s stock price. Arbitron is a radio ratings firm which provides ratings similar to Nielsen television ratings. Attorney General Cuomo is investigating whether executives issued positive statements about Arbitron’s new ratings system, the Portable People Meter, and then sold stock prior to announcing a delay in the deployment of the Meter. This probe comes on the heels of another investigation by Cuomo and the New Jersey Attorney General on the efficacy of the Portable People Meter and whether it undercounts minority listeners. In a prepared statement, a Cuomo spokesman stated that the probe is in its early stages and the allegations of insider trading are still just allegations.
Full post as published by ClassLawBlog.com on November 05, 2008 (boomark / email).
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