- Best Buy (BBY +1.1%) responds to yesterday's story posted on Seeking Alpha indicating that some Geek Squad members may be moonlighting as FBI informants.
- BBY statement: "Best Buy and Geek Squad have no relationship with the FBI. From time to time, our repair agents discover material that may be child pornography and we have a legal and moral obligation to turn that material over to law enforcement. We are proud of our policy and share it with our customers before we begin any repair. Any circumstances in which an employee received payment from the FBI is the result of extremely poor individual judgement, is not something we tolerate and is certainly not a part of our normal business behavior. To be clear, our agents unintentionally find child pornography as they try to make the repairs the customer is paying for. They are not looking for it. Our policies prohibit agents from doing anything other than what is necessary to solve the customer’s problem so that we can maintain their privacy and keep up with the volume of repairs."
- Previously: Report: Some Geek Squad members moonlighting as FBI informants (Jan. 9)