With RIM Stock prices slowly creeping around the $11 mark its a wonder even with such positive new coming about finally for RIM that the stock price remains low. Today a former AT&T employee has admitted that he leaked insider information of Blackberry sales to investors. Alnoor Ebrahim, also leaked iPhone sales figures to traders.
“I provided insider information concerning AT&T’s sales of Apple’s iPhone and RIM’s (Research In Motion Ltd) BlackBerry products, as well as other handset set devices sold through AT&T distribution channels,” Ebrahim told U.S. District Judge Paul Oetken in Manhattan.
Ebrahim has pleaded guilty to conspiracy to commit wire and securities fraud. Ebrahim will be sentenced to a maximum of two years in prison, as a result of a plea agreement with Manhattan federal prosecutors.
“We took this matter very seriously and cooperated fully with the authorities,” said AT&T spokesman Marty Richtman. “The conduct alleged was clearly against our code of business conduct, and Mr. Ebrahim is no longer an AT&T employee.”
It is a wonder that with suchleaked information that it may have artificially forced market prices but none is to say what they culprit may be, what do you think of such news?