Amsterdam prosecutors probe Net firm amid allegations of insider trading.
Published:
14 November 2000 y., Tuesday
Amsterdam prosecutors probe Net firm amid allegations of insider trading.
Dutch prosecutors on Monday raided the Amsterdam offices of Internet service provider World Online NV, hoping to dredge up information linked with alleged insider trading at the ISP before its initial public offering earlier this year.World Online, which is expected to merge with Italian ISP and telecommuncations company Tiscali SpA, said it is cooperating with officials from the Dutch government. A source close to the company said the probe should not have any impact on the completion of the Tiscali deal, which was valued at about $4.9 billion when announced formally a week ago.
The raid comes seven months after World Online's former Chairman Nina Brink resigned amid speculation that she had improperly sold World Online stock before the March 17 offering. Brink departed under a cloud of legal action from shareholders who say an undisclosed sale of her 9.5 percent stake for about 6 a share hurt market confidence in the ISP. The stock debuted at 43, but immediately went into freefall.
The prosecutors were discussing alleged insider trading and were seeking documents connected with the matter, said a person close to the company.
In a statement, prosecutors said that the investigation was a criminal one, and confirmed that World Online was cooperating, but said no further details would be released until the investigation was concluded.
Brink declined to confirm or deny that she was a target of the investigation, but said, through a spokeswoman, that her house had not been raided.
Tiscali had no immediate comment on the raid and gave no indications as to whether the investigation might create obstacles for its takeover of World Online.
Šaltinis:
CNNfn
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
“Banking Market in the Baltics 2009-2011, CEE Banking Brief” report recently presented by Intelace Research states that, despite the current economic recession, Estonia, Latvia and Lithuania are still among the most advanced banking markets in Central and Eastern Europe (CEE).
more »
According to the unaudited data for three quarters 2009, AB Bank SNORAS earned LTL 4.1 million profit. Although the inter-banking market of the country fixed the banks’ asset decrease (- 4.6 per cent) since the beginning of the year, the assets of Bank SNORAS grew by LTL 249.3 million and were by 4 per cent higher than at the beginning of 2009.
more »
Taking into account changes on domestic money markets AB DnB NORD Bankas, a member of international financial group shall change individual and corporate time deposit rates from November 5.
more »
FL Technics, the leading aircraft maintenance, repair and overhaul (MRO) provider in Eastern Europe, has signed contracts with Air Italy and Air Slovakia for Boeing 737-300 aircraft base maintenance in Lithuania.
more »
Thales UK’s headquarters site in Weybridge has recently held a Halloween charity coffee morning, raising more than £280 for Marie Curie Cancer Care.
more »
New SaaS-Based Vulnerability-Scanning Solution Is Latest Addition to Company’s Application Security Program.
more »
Since 31 October 2009, only LTL 0.99 fee for accepting payments will be applied to clients while making payments for various services (utility fees, communication services, etc.) in all subdivisions of Bank SNORAS.
more »
AB DnB NORD Bankas, the country‘s leader in investment products market, offers a new possibility for the clients to make repurchase deals (repo deals) in the bank’s newly installed on-line trading platform.
more »
The benefits of the integration of eastern Europe’s financial systems into the world economy outweigh the costs that have been highlighted during the global economic crisis, the EBRD has concluded in a new report.
more »
On 22 October 2009, following the favourable opinion expressed in September by the Committee for Fisheries and Aquaculture, the Commission adopted a Regulation establishing the implementing rules for the 2008 Regulation to prevent, deter and eliminate illegal, unreported and unregulated (IUU) fishing.
more »