Drkoop Execs Violate Trading Rules
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Almost two weeks after a Drkoop.com director was cited for violating trading rules, the company said Friday that several other executives failed to adhere to securities regulations.
The accused broke a federal regulation that bars executives and directors from selling company stock within six months of purchasing shares, The Wall Street Journal reported.
Director Richard Helppie, who holds more than 5 million shares, bought and sold 400 shares within days of purchasing them.
He had to return the $76 he made when he traded Drkoop (KOOP) shares for 16.63 on June 11. He had originally bought them June 8.
The announcement follows the Aug. 20 report that Drkoop.com director Nancy Snyderman broke corporate-insider trading rules in July by selling some of her company shares one month after its June initial public offering.
Snyderman returned the $53,245 from selling 1,650 shares in July.