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Two months before the technology firm Scientific-Atlanta's stock plummeted 34 percent, the company's chief executive officer sold 815,000 shares and, in one week, made $42.8 million. Now three stockholders claim he engaged in insider trading and are suing the company in federal court in Atlanta. The stock sales "were unusual in both timing and amount," the complaints allege.
August 06, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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