A former AT&T has admitted selling confidential information held by the operator, including sales figures for Apple the iPhone . This confession comes as the U.S. goverment has uncovered what could be the biggest insider trading of the country’s history.
This employee was part of a network of sources within the operators collecting confidential information such as the level of sales of the Apple iPhone , Rim BlackBerrys and other phones. Intermediary companies then passed this information to consultants or business analysts or investment funds. This information, stolen and then sold, then allowed them to guide their investments and recommendations.
This employee is a person among several others who have been arrested in recent weeks as part of the dismantling of the network. This case highlights the importance of increasing investments in the consumer technology market, a market that communicates little while information is precisely the key risk-taking.
[Via Reuters ]