The Fraud Discovery Institute is investigating Trimble Navigation regarding a resume misrepresentation in a recent Wall Street Journal article as well as recent share activity. According to the PR, the resume of the Chief Technical Officer, Dennis Workman, indicates a master’s degree in electrical engineering from MIT that the school denies.

The company has also invested $250 Million in a share repurchase program that represents 91% of the company’s net income and 82% of cash flow, while company insiders have sold more than 90,000 shares with proceeds of more than $3 million. The pattern is said to resemble a ‘pump-and-dump’ strategy.

The average sale price of the insider sales was $31.23 per share, while the stock is currently trading at $16.14. Given the recent slide in all stocks, it seems like fortunate timing to have unloaded stocks near their 52-week high of $41.

It’s unfortunate when any company comes under such scrutiny, and it will be interesting to see how Trimble responds.

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