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Did Heartland CEO Make Insider Stock Trades?

Did Heartland CEO Make Insider Stock Trades?
Did Heartland CEO Make Insider Stock Trades?

Forwarded from: security curmudgeon 
To: dataloss (at)
Cc: InfoSec News 

[As several OSF volunteers were looking into this exact question today, 
turns out Anthony M. Freed beat us to the punch. Well done! - jericho] 

Did Heartland CEO Make Insider Stock Trades?
by Paisano1 | January 29, 2009 at 07:04 am

By  Anthony M. Freed Financial Editor

Heartland Payment Systems (HPY) and Federal investigators have released 
more details about the technical nature of the massive financial data 
breach made public last week, but have refused to pinpoint the exact 
date that Heartland first became aware there may have been a problem 
with their network security.

The date they settle on may well be the difference between market 
serendipity and an SEC investigation for insider trading, as an 
examination of stock sales made by Heartland CEO Robert O. Carr in the 
second half of 2008 raises some serious questions about just who knew 
what and when in the latest version of the worst-ever information 
security breach which has now spawned a class action lawsuit.


Federal investigators and the Secret Service have apparently traced the 
Heartland data breach to sources outside of North America, with some 
reports indicating Eastern Europe as being the most likely origin of the 
unauthorized access.


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