Correction
Guess El-Hibry knew what he was doing when he sold 230,100 shares of the anthrax vaccine manufacturer between July 17 and August 6, since the vaccine company Emergent Biosolutions reported poor net earnings despite sales being up 88% this quarter. On sales of 230,100 shares since mid July, he earned about $3 million dollars.
Note that some of the documents released by the FBI yesterday detail many past problems at this vaccine factory.
Thursday, August 7, 2008
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7 comments:
Interesting story, but where did you hear that El Hibri sold $200 million in shares of the vaccine manufacturer?
SEC filings show he sold a total of 61600 shares twice in July, on the 30th and the 25th, for an approximate market value worth of $795,000.
His total stake in the company (approximately 14 million shares) is worth about 200 million dollars.
I haven't seen anywhere that indicates he dumped his complete share of the company, where did you find that information?
Thank you, Dr. Nass. Your reportage provides a rare bright spot in this dark period of American history.
It is not insider trading because the sales were made pursuant to a 10b5-1 plan files June 13, 2008.
I don't think the number is any where close to $200 million either. It appears that the are shares moving from - essentially - one pocket to another.
The timing of the 10b5-1 plan is quite coincidental though.
Dr. Nass,
Sorry for this off-topic post, but you might be interested that the FBI itself admits that http://georgewashington2.blogspot.com/2008/08/16-labs-had-killer-anthrax-strain.html
This company was (and probably never will be) designed to make any type of profit. It is designed to funnel tax payer's dollars into the pockects of politically connected money making scheme participants. I believe you could call it a sophisticated con game.
I apologize for the broken link. I was trying to provide this link.
By the way, from a scan of newspapers (NY Times, WaPo, Baltimore Sun, etc.) it seems that much of America is just not buying that Dr. Ivins was the anthrax killer.
Dr. Nass,
Here is my latest (and probably last, at least for a while), attempt at debunking the FBI's case against Dr. Ivins. I argue the hypothesis that the killer used very high-tech anti-clumping and anti-static coatings which Dr. Ivins simply couldn't have produced.
I am not an expert in any relevant area, and I am not an insider with any direct knowledge. So this hypothesis should be checked by yourself and your contacts and Glenn Greenwald and his contacts.
Good luck, and thank you for your efforts in fighting for truth and justice.
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