Roster of Intermix Insider sales: The September Featured Company:
Intermix (MIX) www.intermix.com
SUMMARY
Insiders dumping stock before disclosing NY-AG Adware
investigation
Intermix Management and Insiders sold approximately $25,000,000 worth of stock with the full knowledge that an action against the company by the New York State Attorney General for adware promotion was imminent.
The stock was sold before disclosing this critical information to the rest of the marketplace. Management and insiders had the benefit of knowing that a materially adverse event was about to impact their business, and they sold stock with this information in their possession before they disclosed the information appropriately to all stockholders. Insiders were able to unload millions of shares of stock at prices ranging from $7.50 - $8.50 per share. Soon after selling, Management disclosed the event to the public and Intermix stock quickly slumped to $3.91 per share.
VIEW THE INSIDER SALES SLIDE SHOW- To see indepth coverage of the INSIDER
SALES view the flash show! Its a must view as readers will get a very rare
look into how the NY-AG investigation went down from start to finish.
CLICK HERE TO VIEW THE INSIDER SALES FLASH SHOW .
INTERESTED IN ADWARE ISSUES? View a flash show which showcases how Intermix
Management actually ramped up their ADWARE practices even as they were in
the thick of the NY-AG investigation
CLICK TO VIEW THE ADWARE ACTIONS FLASH SHOW .
To contact us – insiderstock007@yahoo.com
December 3, 2004 – According to Intermix letters, the first date and beginning of the New York Attorney General investigation began.
December 2004-February 2005 – Intermix corresponds at least eight times with the NY-AG's office.
February 14, 2005 – Intermix files its 10Q without any mention of the ongoing inquiries by the NY-AG.
Insider Trading Begins…Insiders sell before disclosing NY-AG investigation to public and benefit at prices from $7.50-9.00 a share
February 17, 2005 – CFO Tom Flahie begins to sell 187,500 shares ($3,187,500 million) of Intermix stock.
February 23, 2005 – COO Adam Goldenberg begins to sell 137,891 shares ($1,172,073 million) of Intermix stock
March 4, 2005 – President Brett Brewer begins to sell 186,078 shares ( $2,176,663 million) of Intermix stock
March 10, 2005 – Intermix Chairman David Carlick's employer, Vantage Point Partners begins to sell 1,995,568 shares ($16,962,328 million) of Intermix stock. This results in millions of dollars worth of stock sold by VantagePoint investors who act on the disposition/instructions from Vantage Point throughout March and early April.
April 5, 2005 – NY-AG notifies Intermix management that they will commence litigation against the company for unlawful and deceptive acts and practices.
April 12, 2005 – Intermix discloses that the NY-AG is considering commencing an action against the company for unlawful practices in its download/search division.
April 28, 2005 – NY-AG files a complaint against Intermix for deceptive practices and spyware.
April 29, 2005 – Intermix stock price closes at $3.91 per share, down mor e than 50% from the price insiders enjoyed while they sold $2,500,000 shares, generating gross proceeds Insider Trading Timeline: Feedback