Quote:
Originally Posted by Av8rgirl
I am and always have been a big advocate for Tysabri. My comment was tongue in cheek...any executive, member of the board of directors must by law file with the SEC their intent at least 45 days in advance of selling stock in their company...
As I originally wanted to post, and now will, just because Mr Mullen is the CEO doesn't mean he knows everything that is going on within the company.
CEOs are sometimes the last to know about negative things that are going on within their company, but are still responsible for what happens on their watch.
I still wonder what motivates CEOs to say some of the things they say in public....afterall, there have been NO cases of PML and Tysabri since it's re-release. If he is going to make blanket statements like that then he should at least back it up with data. This is irresponsible on his part and/or the journalist reporting it if the "whole story" was not reported.
As is more likely the case, we, the public and the patients, will never know the whole story.  |
Not always true Cheryl...sorry
....If a CEO or other exec wants to dump hundreds of thousands, or millions of shares, they must file their intent as you describe (Usually they will include in that statement what price they will sell at....usually at a much higher price than is currenly being quoted). However; they can sell at anytime in small batches, but it must be reported to the SEC the day they do it. When an Exec sells shares and then the investors find out, it usually causes the investors to freak out and dump what they have, all in the name of fear.
Brings the price down, and then everyone starts jumping in again....its a visious circle.
I'm evaluating the company and its stock, not Ty....From my research, Ty is the best bet for those with confirmed MS...and if I were to get such a dx, I'd be on the Ty train myself. It dosen't stop the Execs from making millions off of the patients as you can see by the links I posted. This would hold true for many companies tho, not just BIIB. (Biogen)
PS: Also note that Mullins is not one who sells frequently; a good sign in any company. They know whats going on with their products, the question is do they believe in them, dispite the knowledge. Every drug has side effects; as consumers we have to weigh those out and make the right choice for ourselves
The CEOs have to come forword with pertinent information, even if its scary, in order to protect the company from suits. I'd guess thats what was behind this statement.