Thursday, January 28, 2010

SEC Gets Inside EMC

And it stinks in there.

"SEC settles case with former EMC executive" by Hiawatha Bray, Globe Staff | January 23, 2010

The Securities and Exchange Commission has settled a civil case against a former executive of EMC Corp. in Hopkinton. Avi Fogel was a vice president of strategic initiatives at EMC from June 2006 until February 2008. The SEC alleged that shortly before EMC disclosed its acquisition of Document Sciences Corp. in late 2007, Fogel illegally bought thousands of shares of Document Sciences stock. Fogel has neither admitted nor denied the charge. But he agreed to pay nearly $400,000 in interest and penalties to resolve the case. In a statement, EMC said the company had cooperated with the SEC investigation, and it has a strict policy against insider trading.


Related: The EMC Exemption

EMC Moving Out of Massachusetts

EMC to Expand Government Data-Mining

Yup, forecast is looking great!

EMC Corp., the world’s biggest maker of storage computers, posted a full-year sales forecast that beat analysts’ estimates as corporate technology spending rebounded.

One day it is spending was down, boo-hoo, the next day it's up.

Whatever, newspaper. I'm glad they are leaving.