"We risk becoming the best informed society that has ever died of ignorance"
- Rubén Blades

"You can't make up anything anymore. The world itself is a satire. All you're doing is recording it"
- Art Buchwald

"It's getting exciting now, two and one-half. Think of everything we've accomplished, man. Out these windows, we will view the collapse of financial history. One step closer to economic equilibrium"
- Tyler Durden

"It is your corrupt we claim. It is your evil that will be sought by us. With every breath, we shall hunt them down."
- Boondock Saints

Thursday, September 15, 2011

Hedge Fund Was Leaked Early Word On iPad

Former Samsung manager Suk-Joo Hwang has admitted to leaking early information on the iPad to representatives from an “expert network” firm and a hedge fund, according to Apple Insider.

In exchange for immunity, Hwang testified in federal court that he had spoken to Primary Global Research executive James Fleishman and a hedge fund manager over lunch about the product launch.

“One particular thing I remember vividly was that I talked about the shipment numbers of Apple, it was about iPad,” Hwang said. “This is in December 2009, before it came out with the tablet PC, they didn’t know the name then, so I talked to them about the tablet shipment estimates in that meeting.

Fleishman faces 25 years in prison if convicted. He was arrested last December as part of a wide-ranging Securities Exchange Commission probe investigating the practice of expert networks, which charge a fee to connect investors with employees of companies. Hwang made $38,000 for his work as a consultant.