Enefit Green insider trading suspicion unproven
Investigators found insufficient evidence to confirm unauthorised information leak before the company's takeover bid.
Enefit Green insider trading suspicion unproven
An investigation into a possible information leak linked to the period before Enefit Green's takeover bid has concluded without a conviction. The Prosecutor's Office decided to close the criminal case, as the investigation revealed no unlawful conduct.
The case centred on suspicion that during the period before the company's takeover bid, confidential financial information could have leaked from among management or board members. This information could have been exploited in securities transactions, which would have resulted in unlawful profit. Securities market rules strictly prohibit possessing such information and acting on it.
Investigative bodies collected and analysed material to determine whether there had been unlawful dissemination or use of information. Ultimately, however, these suspicions proved insufficiently substantiated to provide grounds for criminal charges. State Prosecutor Jürgen Hüva explained that the proceedings had to be terminated because the crime was not confirmed.
Source: PM Online
Source: Postimees