MarketWatch Founder Calandra Steps Down
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Thom Calandra, the chief commentator for CBS MarketWatch and a founder of its parent company MarketWatch.com Inc., resigned Thursday amid probes into his stock trading.
Calandra, 47, stepped down after becoming the target of a Securities and Exchange Commission informal inquiry over trading dating back to October 2002, MarketWatch said.
The San Francisco-based firm, which provides financial news over the Internet, said the SEC asked Calandra for records of his personal stock trades, copies of his newsletter the Calandra Report, and copies of e-mail alerts sent to newsletter subscribers. The newsletter has been terminated.
MarketWatch said it began investigating whether Calandra violated the firm’s trading and disclosure rules after learning in December of the SEC inquiry.
Calandra’s lawyer did not return a call seeking comment.
MarketWatch.com shares fell $1.03 to $9.90 on Nasdaq.
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