As news emerged Friday that American Home Mortgage would file for bankruptcy, it was revealed that founder Michael Strauss sold almost $3.5 million in company stock the day before employees found out they'd be losing their jobs.
The information came late Friday in a Securities and Exchange Commission filing that said Strauss had sold almost 3 million shares of company stock on Wednesday for $1.17 a share. The same day, employees had been told in a conference call to stay positive and keep processing loan applications.
Full article below
http://www.newsday.com/business/ny-bzahm0803-story,0,599044.story
The information came late Friday in a Securities and Exchange Commission filing that said Strauss had sold almost 3 million shares of company stock on Wednesday for $1.17 a share. The same day, employees had been told in a conference call to stay positive and keep processing loan applications.
Full article below
http://www.newsday.com/business/ny-bzahm0803-story,0,599044.story