Bach sold more Microsoft stock than he let on

Written by Joe Martin

August 15, 2007 | 12:11

Tags: #360 #bach #bill-gates #entertainment #million #sale #shares #stock #warranty

Companies: #microsoft

Robbie Bach isn't someone who gets bandied around in front of the gaming press very often, which is odd given his loveable and oh-so-friendly name. Last month though, he still managed to steal the spotlight from then-Xbox frontman, Peter Moore, for a week or two when it came to light he may have been guilty of more than spotlight-theft. Allegedly.

Robbie originally landed in hot water last month when he off-loaded $6.2 million in Xbox 360 stocks at the same time as Peter Moore extended the the Xbox 360 warranty.

Concerns were immediately raised about it because Robbie hadn't scheduled his sales, which made it seem as if he was trading the stocks based on his insider knowledge that Peter Moore was about to admit that the Xbox 360 had hardware issues. Worried that the stocks were about to plummet, it's inferred he may have tried to sell before the stocks lost all their value.

The news today though is that Robbie didn't sell $6.2 million of Xbox stocks at all. Oh no, he sold $9.2 million instead and the extra $3 million weren't filed with the Securities and Exchange Commision thanks to an administrative error, according to CNN.

Microsoft is still standing by Robbie though, pointing out that the stocks didn't fall as many may have suspected and therefore even if it was insider trading then it still wouldn't make a difference. Robbie insists that the sale coincided with the announcement purely by accident.

Hmm. Tricky.

Reckon Robbie's been up to some dirty dealings, or is he a misunderstood businessman with a lot on his mind and a bad memory? Let us know what you think in the forums.
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