Ubisoft: Insider Trading Earns A Penalty!

General news News 12/10/2016

0 1576 Views

The AMF’s inspection ended, and for a few, a massive bill came in the post…

Previously we wrote about how Paris-based Ubisoft‘s five employees are investigated for insider trading. They ended up selling the company’s stocks in the autumn of 2013, just weeks before two games got delayed, dropping the value of said stocks. A decision came.

The five employees got a total of 1.2 million dollar penalty, but Ubisoft told GameSpot that the publisher itself is harmless in this event. Yannis Mallat, who previously made his voice heard on this subject (and also who got the biggest fine of them all…) said that this process is unjustified and illegal.

To end this article, let’s name the five persons involved in this alleged insider trading: Christine Burgess, Yannis Mallat, Olivier Paris, Francis Baillet, Damien Moret – with the exception of Moret, everyone is appealing.

By the time the decision happens, Vivendi might take over Ubisoft, as they now own 25.15 percent of the stakes, and if they go over 30 percent, due to French law, they must (!) make a public offer to purchase Ubisoft.

(Source: MCV)

Spread the love

Angyal Anikó

Anikó, our news editor and communication manager, is more interested in the business side of the gaming industry. She worked at banks, and she has a vast knowledge of business life. Still, she likes puzzle and story-oriented games, like Sherlock Holmes: Crimes & Punishments, which is her favourite title. She also played The Sims 3, but after accidentally killing a whole sim family, swore not to play it again. (For our office address, email and phone number check out our IMPRESSUM)