A former IT staffer at Expedia was recently charged with trading on non-public information. Could it happen at your company?
By Joseph McCafferty
December 14, 2016
It's a nightmare scenario for any public company: An IT staffer gets a hold of senior executives' passwords, accesses sensitive non-public information on things like upcoming earnings reports, new products, or potential deals, and trades on it, enriching himself at the expense of company shareholders.
Just such a nightmare recently played out at online travel-booking company Expedia. Last week the Securities and Exchange Commission announced insider trading charges against a San Francisco-based information technology specialist who allegedly hacked senior executives at Expedia and illegally traded on company secrets.