at a price of $49.25 per share, netting $24.62 million in proceeds. See id. ¶¶ 27, 216. Furthermore, plaintiffs have alleged that the timing of Keenan’s sales was “highly unusual”. Id. ¶ 216. At the time of his sales, all of the analysts following the Company had BUY or STRONG BUY recommendations on the stock, with price targets in the $60 per share price range. See id. Finally, Keenan was not the only corporate insider who sold his shares of Independent Energy. In connection with the Secondary Offering, Sulley and Jones realized nearly $3 million each on sales of substantial portions of their holdings in the Company. Keenan’s sales are sufficiently widespread and substantial to qualify as “unusual” and thus constitute an adequate allegation of motive. See Stevelman, 174 F.3d at 85 (<HOLDING>). Accordingly, plaintiffs have adequately pled
holding in context of control person analysis that because defendant founded the company and was its largest shareholder he may be able to influence the company holding that plaintiffs failure to mention vice president of thirdparty company in initial disclosures was harmless because plaintiffs mentioned president of company and defendants conducted no discovery of company holding transfers of cash totaling 32350000 made by a debtor to an insider creditors company void under the statute holding that a profit of 35 million in insider trading by the president and ceo of the company was sufficient to plead scienter because that corporate insider sold 40 of his stock holdings in the company and several other corporate insiders sold large positions in the company holding that president of company who breached fiduciary duty in purchasing stock was properly required to pay damages rather than transfer shares back to company