SECURITIES

GM Execs Sold Stocks Just Before Price Tumble: General Motors Corp. executives sold thousands of shares of stock shortly before the price fell by more than 3%, the company acknowledged. But the auto maker denied any wrongdoing. It confirmed that Chairman Robert C. Stempel sold 12,800 shares of GM common stock at $40.88 a share and 9,850 shares of GM Class E stock at $51.38 a share Aug. 7. Combined, the sales brought Stempel slightly more than $1 million. The sales were made just before GM executives, including Stempel, met with Wall Street analysts Aug. 8 to discuss the firm. That day, Vice President J. T. Battenberg III told reporters the auto maker’s core North American automotive operations may not be profitable for two to three years.