Feeds

Nvidia Xbox win lands staff with insider trading suits

11 employees charged

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Eleven Nvidia staffers and four associates stand accused of making $1.7m through insider trading, after the company told employees it had won the contract to supply Microsoft's Xbox games console with graphics chips.

Five staff face charges of criminal insider trading as well as civil fraud. The employees, mostly engineers, played the stock market after receiving a company-wide memo headed "X - it's ours" in March 2000 from CEO Jen-Hsun Huang, the Securities and Exchange Commission alleges.

All but two of the 15 are contesting the charges, the SEC says. Two have settled civil fraud charges by paying $70,000.

Robert Mitchell, head of the SEC's San Franciso enforcement unit, said the case "highlights the danger of executives' disseminating confidential information so broadly", Bloomberg reports. ®

Remote control for virtualized desktops

More from The Register

next story
BIG FAT Lies: Porky Pies about obesity
What really shortens lives? Reading this sort of crap in the papers
Be real, Apple: In-app goodie grab games AREN'T FREE – EU
Cupertino stands down after Euro legal threats
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.