 It was alleged that he directed his broker to sell his entire 600,000 shares of stock in the company to avoid losses in excess of $750,000 based on insider information.On June 30, 2009, Copernic completed the sale of Mamma.com and its third party Ad Net to Empresario, a privately owned digital media network based in Chicago Illinois.Transaction took place as planned by the two companies and will allow Copernic to reflect the details in their Q2 report.