Posted 3 Feb. 2022 at 12:23Updated 3 Feb. 2022 at 02:36 PM
Selling or buying shares based on information that is not yet public is illegal. And insider trading can be very expensive. At the end of July, Yves Le Masne, the ex-boss of Orpea sacked last Sunday, was he guilty of such an offense? It is too early to tell. In any case, he sold 5,456 Orpea shares at 107.80 euros; which earned him more than 500,000 euros. Today, the action quotes less than 40 euros (a fall of 65% since the end of July). According to the “Canard enchaîné” of February 2, this transfer took place a few weeks after the group’s management was informed of the publication of the book “Les fossoyeurs” which denounces the mistreatment of the elderly in Orpea’s retirement homes. . But what does the former CEO of Orpea really risk, assuming that the stock market policeman pursues him and ultimately condemns him for insider trading?