SEC, Justice Investigate Frist’s Sale of Stock
by Angry White LiberalSenate Majority Leader Bill Frist is facing questions from the Justice Department and the Securities and Exchange Commission about his sale of stock in his family’s hospital company one month before its price fell sharply.
The Tennessee lawmaker, who is the Senate’s top Republican and a likely candidate for president in 2008, ordered his portfolio managers in June to sell his family’s shares in HCA Inc., the nation’s largest hospital chain, which was founded by Frist’s father and brother.
A month later, the stock’s price dropped 9 percent in a single day because of a warning from the company about weakening earnings. Stockholders are not permitted to trade stock based on inside information; whether Frist possessed any appears to be at the heart of the probes.
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February 21st, 2008 at 9:33 pm
You Too Can Be A Foreign Exchange Student…
Have you ever wondered why there are so many foreign students at your school, college or university? Have you considered the possibility of you studying abroad as part of you studies?…