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Technology Stocks : SAP A.G. -- Ignore unavailable to you. Want to Upgrade?

To: Bob Duclos who wrote (2447)	9/3/1998 8:13:00 AM
From: Gary Metzer	Respond to of 3424

Thread, SAP Managers made out okay. Sure wish I could sell before bad earning come out. Below article taken from WSJ Interactive ***************************** September 2, 1998 SAP Managers Fined But Not Guilty Of Insider Trading Dow Jones Newswires FRANKFURT -- The Hessian State Attorney's Office Wednesday awarded three SAP AG (SAP) managers hefty fines, but said they weren't guilty of insider trading after selling SAP stock ahead of a price drop in October 1996. State Attorney Job Tilmann said the three had acted "completely unwittingly" when they sold stock converted from bonds in an employee stock option plan ahead of what emerged as disappointing third-quarter data that year. But he added that they should have stopped selling SAP stock when they obtained the value-added information on the company's share price ahead of the market in October 1996. The poor earnings led to a temporary fall in SAP's share price. The SAP board member and a present and a former general manager were each fined between DEM50,000 and DEM120,000 for continuing to sell when it became apparent that the earnings would negatively affect the share price, said Tilmann. Neither SAP nor Tilmann would reveal the identities of the three parties, saying they were only known by name to a small circle within the company. SAP said it sees no need to take action against the employees after they "credibly assured the company that they had not behaved in a criminal manner." SAP said the three only agreed to the fines in order to bring the proceedings to a close, it said in a press statement Wednesday. -By Angela Cullen; 49 69 25616 500; acullen@ap.org --------------------------------------------------------------------------------