On August 17, Halutz rejected resigning over the affair, adding that the motives behind its publication are "wicked and tendentious. I do not know who is behind this. I do not intend to be dragged to such levels, questioning my integrity." Halutz admitted selling about $28,000 worth of his stocks within three hours of Hezbollah's kidnapping of two Israeli soldiers—the action that sparked the conflict. In a news conference in Tel Aviv, Halutz said the stock sale was unrelated to the outbreak of war and criticized the disclosure of his personal financial information.