Wyoming Man Sentenced for Extortion Against Hardee's Fast-Food Chain's Parent Company
A Wyoming man was sentenced to a year and nine months in prison Tuesday after admitting he threatened to publish negative stock reports about the Hardee's fast-food chain's parent company if he wasn't hired as a consultant.
C. Clive Munro, 54, pleaded guilty Feb. 10 to one count of communicating interstate threats in U.S. District Court. He was arrested last October at his Cheyenne, Wyo., home.
Beginning in April 2003, Munro, an independent stock analyst, pressed Hardee's parent CKE Restaurants Inc. CEO Andy Puzder and Chief Financial Officer Ted Abajian to hire him as a consultant for $25,000 a month for a year. The company did not hire him. Munro then issued a negative report in August 2004 suggesting CKE's "slowing growth" could lower the stock price and that investors should sell their shares.
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Source - AP
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