Posted AT 4:09 AM EDT on 10/04/07
Pet food insider sold shares before recall
The chief financial officer of Menu Foods Income Fund says it's a "horrible coincidence" that he sold nearly half his units in the troubled pet food maker less than three weeks before a massive recall of tainted pet food.
Insider trading reports show that Mark Wiens sold 14,000 units for $102,900 on Feb. 26 and Feb. 27. Those shares would be worth $62,440 today, based on yesterday's close of $4.46 a unit.
That represented 45 per cent of Mr. Wiens's units.
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