iPad, iPhone play part in insider trading sting

An executive at Flextronics, a parts supplier to Apple, passed on secret information about the iPad and iPhone 4 before their announcements, according to a new report. Citing a 39-page legal complaint lobbied against Walter Shimoon, a senior director of business development at Flextronics, and three other men, the Wall Street Journal reports that Shimoon shared information about Apple’s iPad, iPhone, and iPod with an unnamed government informant. “They [Apple] have a code name for something new…It’s, it’s totally…it’s a new category altogether. And, uh, I speculate, it doesn’t have a camera in it, what I figured out. So I speculated that it’s probably a reader…Something like that…I believe it’s called…K48,” Shimoon told the informant in October 2009, nearly four months before the iPad’s introduction. During the same call, Shimoon said that Apple was working on a new version of the iPhone that would include two cameras; the iPhone 4 was launched eight months later. Shimoon is also said to have provided information about Apple sales figures for the iPhone for the third quarter of 2009, and sales forecasts for the iPhone and iPod for the fourth quarter of 2009.

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  1. really? everyone knew apple was going to release a slate type device and a phone with 2 cameras. what the hell was news about that?

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