Toronto (AP) - Canadian insider trading reports show the Chief Financial Officer of Menu Foods sold about half his shares in the company just three weeks before a massive recall of its pet food products.
The 14,000 shares CFO Mark Wiens sold for $89,900 in late February are now worth about $54,000. He still owns about 17,000 shares. A company spokesman says Wiens faced a restricted window that
prevented him from trading until February 19th and that he sought
permission in writing from the CEO to trade then.
On March 16th, Menu Foods recalled 60 Million cans of dog
and cat food after the deaths of at least 15 pets that ate its
products, mostly cats. The Food and Drug Administration said tests
indicated the food was contaminated.