Martha Stewart must be having a conniption fit right about now. She did five months in the federal pen and another five under house arrest for selling less than 4,000 shares of ImClone on an insider tip that wasn't even hers.
It has been revealed that Green Mountain Coffee Roasters (GMCR) founder Robert Stiller was informed bythat they were about to enter the single serving coffee market a couple weeks before it was formally announced. Now it looks like Stiller then promptly dumped a million shares of GMCR before the announcement was made public:
I've always believed that where there's smoke, there's fire. And GMCR has some pretty high profile detractors who've been crying foul for quite some time.
David Einhorn went after them in this presentation with a vengeance I haven't seen since he did his famous hatchet job on Lehman at the Ira Sohn conference in 2008. And convicted fraudster-turned-whistleblower Sam Antar has been hounding the company for two years now.
So what do you guys think? Is this a clear cut case of insider? And is GMCR a scam? If so, you know what that means:
Best. Short. EVER.