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February 20, 2024

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Lawmakers Want Pactiv Evergreen Executives Investigated For Insider Trading

A western North Carolina lawmaker wants several executives who sold off stock days before announcing the closing of the Canton mill investigated for insider trading. Executives including Pactiv Evergreen’s President and CEO sold more than 58,000 shares, as more than 1,000 employees were notified the plant was shutting down. After the closure was publicly announced, the value of the shares dropped drastically, causing many to question the timing of the stock sell-offs. Congressman Chuck Edwards, who represents North Carolina’s 11th district, has asked for the SEC to review the matter, as “It would be illegal for anyone to profit from inside information,” the congressman said in a letter to the SEC. Edwards has asked for a response from the SEC by March 23rd.

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