Drkoop.com in Hot Water With Securities Law
It has emerged that several Drkoop.com directors and executives did not comply with security regulations following the disclosure last month that a director, Richard Helppie, violated corporate insider-trading rules when he sold 400 shares.Drkoop.com, a health-information Web site at www.drkoop.com, was co-founded by former Surgeon General C. Everett Koop, who also failed to file the proper disclosure paperwork the day of the company's IPO when he bought additional company stocks.
A report dated Aug. 20 also states that another Drkoop.com director, Nancy Snyderman, broke corporate insider-trading rules in July when she sold some of her company shares just one month after its June initial public offering. Snyderman returned the $53,245 from selling 1,650 shares.
