Months after his resignation as CEO of Atari, Ray Kassar is hit with charges of insider trading by the Securities & Exchange Commission. At issue, according to the SEC, is the sudden sale of 5,000 shares in Atari’s parent company, Warner Communications, 23 minutes before a statement was issued indicating that Atari would not meet shareholders’ expectations in the fourth quarters of 1982. Other Atari executives are also charged with similar last-minute sell-offs.
