CBS Execs Accused of Insider Trading: Is Any Company Safe?
by: The Knowledge GroupFebruary 19, 2019
Multiple CBS Corporation execs engaged in insider trading just before the news came out about sexual harassment accusations against former CEO and Chair Leslie Moonves. This is the claim of a shareholder lawsuit against the company naming Moonves as one of the alleged traders.
Also accused in the lawsuit are Joe Ianniello, the acting CEO; the company’s chief accountant; and a former CBS communications chief.
In the aggregate, the transactions involved more than $200 million in shares, all occurring prior to the company’s announcement that it would investigate the harassment claims.
Meanwhile, CBS itself reports that the lawyer who oversaw Apple’s insider trading policy faces federal insider trading charges. According to the Department of Justice, investigators say the lawyer engaged in trades while telling others not to.
Insider trading is just one form of internal security breach to anticipate.
Breaches From Within Agencies and Businesses Comprise a Growing Problem
For a dive into insider threats and best practices, join The Knowledge Group for this week’s live webcast: Insider Threat: Tools and Techniques to Detect and Prevent the Threat From Within. The webcast happens Wednesday, February 20, 3-5 pm (ET). Register or buy a copy of the live webcast.
Typically, companies are on the alert for external threats.
Yet negligent and deliberate breaches occurring from within are growing in number.
Attacks From Inside Pose Special Management Challenges
Corporations and agencies must have sound strategies and effective techniques to address the insider trading and security risks:
- Communication among departments to reduce threats.
- Protection for networks.
- Budgets for applications that can assess risk, detect threats, and shield the entity.
- Safekeeping of trade secrets and intellectual property.
- Appropriate security policies, procedures, and sanctions.
- Litigation strategies.
The Knowledge Group, with an expert panel of professionals, will offer webcast attendees a deep dive into inside security threats and current strategies to address risks. The faculty include, Homayun Yaqub, Senior Security Strategist with Forcepoint; Chief Engineer Harry Perper with the MITRE Corporation; and Michael Birmingham, who heads the Insider Threat Division in the U.S. Army.
Date and Time: Tuesday, March 12, 2019 at 3:00 pm – 4:30 pm (ET)
Number of Credits: 1.5 Continuing Legal Education (CLE) Credits