Latest in Apple

Image credit:

iPod manufacturer gets questioned on insider trading

Darren Murph

You'd think that by now, all these high-falutin' execs would have figured out that illegally manipulating one's stock price probably isn't the best approach to garner public attention, but now we've got yet another company under scrutiny for insider trading allegations. Inventec, who plays a major role in the manufacturing of Apple's iPod, was raided yesterday as Banciao prosecutors began "looking for evidence to support charges of alleged insider trading." Apparently, officials have "reliable information that upper management manipulated the company's stock price," and after the initial sweep was completed, a whopping 22 individuals were captured for questioning. Of course, spokespersons for the firm are adamant that the probe won't effect operations, but considering that a faithful janitor could be running the supply chain in the interim, you never know what mayhem could ensue.

[Via Inquirer]

From around the web

ear iconeye icontext filevr