Re: Conflict of Interest anyone?
I dont have a problem with him buying and selling his personal shares in Facebook because he is a director there. My objection is that he has another company of which he is also a board member (founding member actually), and which is buying shares (or selling in this case) shares in his first company.
Do not tell me there is not a conflict of interest there. If he's doing his job properly at Facebook he knows when they are about to release good results in advance and also when they are releasing bad results. If his other company is then buying and selling stock in Facebook, they are taking advantage of the insider information and that is a conflict of interest.
And whilst people might claim that there's no advantage being taken, maybe he's not involved in the sales personally or whatever, the fact remains that if he is doing his job properly for his second company, then all it would take is a mention of something strategically important over a business lunch (of which there's of course no record) then his second company will be able to gain an unfair advantage. The only way to avoid this would be for his second company NOT to invest in Facebook in the first place.
Too much of this dodgy stuff is happening these days and the authorities just dont seem to care in the slightest.