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SEC Trading Probe Targets Insiders at Lawrence, Pa.-Based Black Box Corp.
Knight Ridder/Tribune Business News, October, 2003
By Patricia Sabatini, Pittsburgh Post-Gazette Knight Ridder/Tribune Business News
Oct. 30--Washington County-based Black Box Corp. is under investigation by the Securities and Exchange Commission, most likely because of suspected unusual trading in its stock by insiders prior to the company's warning in March that profits would fall substantially below expectations.
Presumably, the SEC is looking at whether insiders at the telecommunications equipment company dumped shares before issuing bad news to avoid losses. Insiders, who usually include directors, officers, key employees and principal shareholders, are prohibited from trading on inside information before it is released to the public.
Black Box, based in Lawrence, and "several" of...
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