Why Velodyne Lidar's Stock Is Down Today

Shares of Velodyne Lidar (NASDAQ: VLDR) were trading lower on Monday after the company announced that it has removed its founder and chairman, and its marketing chief, following an internal investigation. The two executives are married.

As of 2 p.m. EST, Velodyne's shares were down about 10.9% from Friday's closing price.

In a terse, early-morning announcement, Velodyne said that David Hall, Velodyne's founder, has been removed from his role as chairman of the board. Marketing Chief Marta Thoma Hall, who is married to David Hall, has also been removed from her role.

Source Fool.com