There are other troubling issues to deal with. During the quarter, CEO David Peterschmidt exercised a significant chunk of his options in company stock, then immediately sold the shares. It happened to take place on the same day that Openwave was accused of options backdating, halfway into the quarter. Again, this makes me wonder whether Peterschmidt knew something the rest of us didn't.
This should not have been a surprise. Dave P. has historically had really good luck with his options. That's why he could make gobs of money from Inktomi despite giving away the search market to Google and falling for the hype in the network infrastructure market.
