Federal authorities state a previous innovation executive has pleaded guilty to scams including a plan to synthetically increase the share cost of picture and video supplier Getty Images
ByDAVID HAMILTON AP organization author
SAN FRANCISCO — A previous innovation executive has pleaded guilty to a single count of scams including a plan to synthetically pumpup the share rate of image and video supplier Getty Images, federal authorities stated Friday.
Robert Scott Murray, who was chief executive of the networking-equipment maker 3Com for anumberof months in 2006, was charged with securities scams for an declared effort to control Seattle-based Getty’s share rate. Murray owned approximately 300,000 shares of Getty Images Holding Inc. in April 2023, according to a Department of Justice declaration declaring that the financier lookedfor to increase Getty’s stock in order to dump his position for a higher earnings.
According to declaration by the Securities and Exchange Commission, Murray veryfirst provided a series of news releases calling on the business to sell itself or to include Murray to its board. Murray released those launches through Trillium Capital, a self-described endeavor financialinvestment company in Massachusetts whose sole owner and supervisor was Murray himself, federal authorities stated.
Then, on April 24, 2023, Trillium revealed a expected quote to acquire Getty Images outright at a cost of