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[Dataloss] Did Heartland CEO Make Insider Stock Trades?

From: security curmudgeon (jerichoattrition.org)
Date: Thu Jan 29 2009 - 17:08:17 CST

[As several OSF volunteers were looking into this exact question today,
  turns out Anthony M. Freed beat us to the punch. Well done!
  - jericho]


Did Heartland CEO Make Insider Stock Trades?
by Paisano1 | January 29, 2009 at 07:04 am

By Anthony M. Freed, Information-Security-Resources.com Financial Editor

Heartland Payment Systems (HPY) and Federal investigators have released
more details about the technical nature of the massive financial data
breach made public last week, but have refused to pinpoint the exact date
that Heartland first became aware there may have been a problem with their
network security.

The date they settle on may well be the difference between market
serendipity and an SEC investigation for insider trading, as an
examination of stock sales made by Heartland CEO Robert O. Carr in the
second half of 2008 raises some serious questions about just who knew what
and when in the latest version of the worst-ever information security
breach which has now spawned a class action lawsuit.


Federal investigators and the Secret Service have apparently traced the
Heartland data breach to sources outside of North America, with some
reports indicating Eastern Europe as being the most likely origin of the
unauthorized access.

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