LONDON (Brand Republic) - Amazon is standing by its chief executive Jeff Bezos, who faces allegations of misconduct after selling £8m worth of his shares in the online book retailer earlier this year.
In February, Bezos sold 800,000 shares in two separate trades, days before the publication of a Lehman Brothers report titled Revisiting Amazon鈥檚 Liquidity, which questioned Amazon鈥檚 performance.
According to a BizReport story, an Amazon spokesperson confirmed that the Securities and Exchange Commission had contacted the company seeking information about the trades. However, he said the company was confident that there would be no cause for any kind of action and that Bezos had acted in line with regulations.
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Amazon defends Jeff Bezos
Amazon is standing by its chief executive Jeff Bezos, who faces allegations of misconduct after selling £8m worth of his shares in the online book retailer earlier this year.