SEC nVestigates graphics company employees


— 10:59 PM on November 20, 2001

The SEC apparently caught some NVIDIA employees in the act of insider trading. Here's the scoop:

The employees -- nine engineers and a human resources worker -- as well as a financial analyst and four friends and relatives began buying shares March 6, the SEC charged.

The stock more than doubled in price in the trading that followed, soaring to $118, the SEC said. Microsoft said in a news release March 10 that it had selected nVidia to design and manufacture the graphics chips for its game console.

"It is unusual to find so many employees of a single company engaged in insider trading," said Helane Morrison, chief of the SEC's San Francisco district office.

Some of the employees have already cut deals with the SEC, so this isn't just an accusation or two flying around. Anyhow, I pretty much wrote this story for the headline.
 
   
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