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Well-Timed Trade By AHM's CEO Raises Eyebrows

Law360 (August 15, 2007, 12:00 AM EDT) -- The chief of American Home Mortgage Investment Corp. faces scrutiny over the auspicious sale of his stake in the beleaguered lender, with the timing raising speculation that he traded on insider knowledge.

A filing to the U.S. Securities and Exchange Commission reveals the CEO, Michael Strauss, sold almost 3 million shares in the company just five days before the lender filed for bankruptcy, causing its stock price to plummet.

Strauss told the SEC the common stock shares were liquidated by a third party to satisfy a...
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