As the Securities and Exchange Commission (SEC) is investigating insider selling at GT Advanced Technologies Inc (OTCMKTS:GTATQ), according to GT Advanced latest 8-K filing, insider trading was closely watched by many in the hedge fund community.
The investigation comes as senior GT Advanced executives, apparently in a position to know about production issues and the failure of the company to win a critical deal with Apple, curiously sold shares ahead of the public release of the information. Hedge funds were tracking the insider sales and in particular when heavy selling was noted on the day before the iPhone announcement was public.
ValueWalk reported as early as October 7 that selling occurred long before...
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