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Sink campaign accuses Scott of insider trading
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| Contributor | Qbanito |
| Last Edited | Qbanito Oct 14, 2010 06:46pm |
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| Category | News |
| Author | WILLIAM MARCH and CATHERINE WHITTENBURG |
| News Date | Friday, October 15, 2010 12:45:00 AM UTC0:0 |
| Description | TAMPA - The Alex Sink campaign says a 1997 lawsuit by the State Board of Administration accused Rick Scott of insider trading — dumping Columbia/HCA stock just before news broke about the federal investigation of the hospital chain.
That helped cause losses in the state pension fund, the lawsuit says.
Sink's running mate, Rod Smith, described the lawsuit in an interview with the Tribune and WFLA today. "It was alleged that Rick Scott ... in fact sold millions of dollars' worth of stock immediately before it came out that his company was under investigation and that he was, quote, inside trading to his advantage," Smith said. News of that investigation, which broke in a 1997 New York Times story, caused the value of the stock to drop after Scott's sales, Smith said.
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