by Joe Blancato 
Mar 14th 2009 at 7:00PM
Filed under: World of Warcraft, Fantasy, Real life, MMO industry
Just in time for Activision Blizzard's earnings report, Co-Chairman Brian Kelly liquidated 2 million shares of his stock in the company on March 12, earning over $20 million in the process. 
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Reader Comments (Page 1 of 1)
mike said on 7:25PM 3-14-2009
Activision publishes guitar hero, EA is rock band I believe
Reply
Joe said on 7:28PM 3-14-2009
Good catch, Mike. Thanks for mentioning that brain fart. I got 'er fixed :)
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Jay said on 9:16PM 3-14-2009
Don't forget insider trading laws. If he knew information in the reports and sold his shares before it was public he would end up in gaol (jail if you are an American).
If anything this indicates that this will be a yawnfest and nothing of real worth to investors will be mentioned.
Reply
mirilene said on 10:52PM 3-14-2009
What is this, /. ?
2 million out of HOW MANY? Oh, RTFA, you say?
The way i read this, he cashed in 242,425 shares for 2 million dollars. not 2 million
I am at a loss for words here. Go stand in the corner.
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mirilene said on 10:58PM 3-14-2009
Sigh.
I was reading the line about Robert Kotick. Now ill go stand in the corner.
/corner
Still. 2 million out of how many is a valid question to ask before wondering if he's jumping ship.
Iconic said on 6:48AM 3-15-2009
Pretty much what Jay said. The fact that he's selling shares this close to an earnings report means the news has got to be neutral or positive.
Selling just before a negative announcement would almost certainly land him in trouble for insider trading.
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danarchy said on 12:02PM 3-16-2009
What they said. Also hes probably leveraged into other stock that is now draining his resources. Even rich guys have bills to pay. I am guessing it's a neutral report or he would have waited till after the announcement to sell.
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