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posted by malloc at 12:03 pm on 2007-08-14

Microsoft's Bach sold $3 million more stock before Xbox news

Microsoft executive Robbie Bach reportedly sold $3 million more in company stock than was previously reported before the announcement of the Xbox 360 warranty extension due to high console failure rates. At least the 'fragile' design of the Xbox 360 is good news for some...

quote:


Microsoft Corp. executive Robbie Bach sold $3 million more in company stock during the period leading up to an announcement about a costly flaw in its Xbox video game console than previously reported, according to a filing Monday with the Securities and Exchange Commission.

MarketWatch reported in July that following an eight-month period when he sold no shares, Bach sold $6.2 million worth of Microsoft stock between May 2 and a July 5 announcement that the company would take a $1.5 billion charge related to Xbox repairs. The most recent sales occurred between May 25 and May 30, according to SEC filings. Bach is president of the company's entertainment and devices unit, which includes the Xbox.



News Source: Marketwatch.com






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