Re: Smith, Re: Anybody want to talk about SEC subpoena response ethics?
Hey FloydonWall,
It helps if you read the actual post.
The 10b5-1 plan, apparently hastily written and signed in the hours after Cramer and TSCM got their subpoena, calls for Cramer to sell 12,500 shares per month for a year...150,000 total. If he were operating by the plan, he would have sold 12,500 in 2/06.
Instead, Cramer sold 112,500 shares in 2/06, and only then did Cramer tell his shareholders about the subpoena.
After 12 months he had sold multiple hundreds of thousands of shares, and in what you can hardly call an "orderly" manner.
This was a fraud committed upon the shareholders of TSCM.
