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France: 2004 Insider Trading Conviction of George Soros Upheld
George Soros will reportedly now appeal to European Court of Human Rights.
France: AMF Clears EADS, All Other Parties in Insider Trading Probe
French regulator AMF clears EADS and all parties in insider trading investigation.
France: Former Vivendi Execs Messier and Bronfman Must Stand Trial
Lawyers for Messier and Bronfman declare their clients innocent.
Paris: Former SocGen Trader Kerviel Ordered to Stand Trial
Trader blamed by SocGen for close to 5 billion euros (US$7.2 billion) in losses.
France: “Exceptional Guarantees” Against Prosecution for Bribery
According to a report last week by the Council of Europe’s Group of States against Corruption (GRECO), French legislation restricts prosecutors in investigating international corruption cases. The report states that “France has severely restricted its jurisdiction and its ability to prosecute cases with an international dimension, which, given the country’s importance in the international economy and the scale of many of its companies, is very regrettable.”
France: GLG Discloses Dismissal of Appeal in Insider Trading Case
London hedge fund group GLG Partners has lost an appeal against a €1.5m ($1.9m) fine by French regulator Autorité des Marchés Financiers for insider trading in Vivendi shares. GLG is still pursuing a separate appeal on the Vivendi fine to the Conseil d’Etat, the highest administrative court, the Financial Times reports. In a US regulatory [...]
France: Prosecutors Recommend Termination of Case Targeting Former Vivendi CEO, Six Others
Prosecutors in Paris recommended Friday that a criminal case targeting former Vivendi Universal CEO Jean-Marie Messier (pictured) and six others be thrown out. The AP reports that Messier has faced fraud and other charges since June 2004. Other former top Vivendi officials charged in the case include ex-executive vice president Edgar Bronfman, Jr. Prosecutors reportedly [...]
France: Former Airbus VP Charged With Insider Trading
In Paris, former Airbus VP Olivier Andries, suspected of profiting from inside information about aircraft production delays, has been charged with insider trading, a legal official said Tuesday. EasyBourse reports that Andries, who denies wrongdoing, was charged Friday and released on bail of EUR130,000. The charges against Andries are the latest development in a probe [...]
Alstom Court Excludes Certain European Investors from Class
As previously discussed briefly here, on August 27, U.S. District Judge Victor Marrero of the SDNY limited the class of investors who are part of the class action in his court against Alstom SA. As reported by IPE.com, the judge ruled that the proposed class definition should be modified to “delete the inclusion of French [...]