Big bad news for Diebold and ES&S

Big potential trouble today for two of the nation’s top voting machines companies. As if they needed more.
See below for breaking news on ES&S facing full decertification and massive fines in California, and some disturbing indications that company officers at Diebold may now have engaged in a recent round of insider trading.
And a reminder that BRAD BLOG runs only on the kindness of supporters like you. Please consider donating to our efforts so that we may continue our original, exclusive reporting… — Brad

Mass Sell-Off by Company Officers Occurs Simultaneously Just Days Prior to Stock Price Plunge, Announcement of Jettisoning of Election Division
‘There’s Smoke There,’ Financial Analyst Tells BRAD BLOG About Transactions at Controversial Company Now Under SEC Invesgiation…
By Brad Friedman from St. Louis, MO…
On a recent Tuesday in August, several days after California Secretary of State, Debora Bowen’s pronouncement of decertification and then new, restrictive recertification of Diebold Inc.’s voting systems, ten officers of the company simultaneously sold off some 10,379 shares of stock at a near 52-week high for the troubled company.
The ten Diebold insiders sold at $53.05 per share, netting more than half a million dollars in the transactions. The stock would begin to plummet nearly 15% a week later, just before it was disclosed that Diebold would spin off their elections division into a new company called “Premier Elections Solutions” after which the stock began a modest recovery.
Two days after the mass August 7th sale, two more Diebold officers would sell another 2,166 shares at the same $53.05 price.
A financial analyst that we spoke to, who asked not to be named, said he saw the spike in sales by the company officers as “a point of interest,” noting “some smoke there” and adding that he found it notable that there had been no similar pattern of sell offs by company officials in Diebold’s recent history…

ES&S Facing Massive Fines, Possible Decertification in CA for Use of Uncertified Modifications to Voting Systems
Illegal Changes to Company’s AutoMARK Ballot Marking Device Could Bring $10,000 Fine Per Machine, Full Refund of Purchase Price, Prohibition from Doing Business in State of California…
By Brad Friedman from St. Louis, MO…
The notice goes on to announce a hearing that will be held in Sacramento on September 20th to determine the penalties that ES&S may face, including a $10,000 fine per violation, complete refund for the price of the “compromised voting system, whether or not the voting system has been used in an election,” full decertification of the system, and prohibition from doing business in the state…

Brad Friedman
Publisher/Editor, The BRAD BLOG

Leave a Reply

Your email address will not be published. Required fields are marked *