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Oct 29, 2009, 08:16 AM
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John 3:16
Join Date: Jun 2005
Location:
 Texas
Posts: 1,973
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Former AMD CEO, GlobalFoundries Chairman Ruiz Ensnared in Insider Trading Case
AMD's former CEO fed illegal tips to current defendant. According to the complaint, on August 26, 2008 the AMD executive (Mr. Ruiz) was asked by Ms. Chiesi if the company would have less than $3 billion in debt (implying the spinoff), to which he replied "yes". He then told her that the deal would likely close in September of 2008. According to documents the executive then called Ms. Chiesi in September, stating, "You know, we're going to shock the hell out of everybody" and telling her that the deal would be officially announced in October. Source: DailyTech.com
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