Jeff Bezos, chief executive officer of online retailer Amazon.com, has come under investigation by the Securities and Exchange Commission for selling shares in his company shortly before an analyst report questioning the company’s finances was released, according to published reports.
During the first week of February, Bezos sold roughly 800,000 shares of Amazon stock, valued at just over $12 million, or approximately $15.25 per share. According to reports, officials at the Seattle-based retailer had received advance copies of investment firm Lehman Brother’s report questioning the firm’s ability to continue operations.
The stock has been trading in the $10-$12 per share range since late February.
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