ZeroLives.com serves cookies to personalize content, show advertisements and analyze traffic. Information about your use of this website may be shared with third parties.
More information
OK
person
Not logged in
Articles
home
Frontpage
PC
Xbox One
Playstation 4
Nintendo Switch
Virtual reality
Indie
star
Premium
inbox
Archive
Search
today
Calendar
Contact
Others
Get the app
Twitter
Facebook
You have already read articles for free this month
Do you enjoy our journalism? Read this article and everything else we've written without restrictions with premium.
star
Subscribe now
This website does not support Ad Blocker
Do you enjoy our journalism? Read this article and everything else we've written without advertisements with premium.

Five Ubisoft executives accused of insider trading

by
Raymond Bakker
Tuesday, November 15, 2016 - 16:00 GMT
Five Ubisoft executives accused of insider trading
Tuesday, November 15, 2016 - 16:00 GMT
by
Raymond Bakker


French stock market regulator AMF have accused five Ubisoft executives of insider trading by selling stock based on inside knowledge.


According to the Autorité des marchés financiers, or AMF, Ubisoft Montreal CEO Yannis Mallat and four other Ubisoft executives all sold stock in the week before October 15th 2013. In this week Ubisoft announced that it would delay the release of both Watch Dogs and The Crew.

As a result of the delay, the company's stock value dropped by 25%. The AMF suspects that the five executives sold their stock to make sure they were not affected by the drop in value.

According to the AMF the executives knew about the delay when they were selling their stock, violating French laws of insider trading, because Ubisoft's headquarters are based in Paris, France.

In a statement the company says that it "is aware that an action being brought by the French Autorité des Marchés Financiers (AMF) involves five of our team members.". The company states that "those individuals vigorously dispute their implication in this matter and the AMF’s interpretation of the facts.".

The statement also notes that "Yves Guillemot, Co-founder and CEO of Ubisoft, does not question the good faith of the people involved and has reassured them that they have his full support and trust."
You have read this entire article completely free of charge
Consider supporting our independent journalists by becoming a premium subscriber to gain unrestricted access to all content and features.

Every contribution we receive goes directly into funding our journalism to ensure we can continue doing what we do best.
subject
Related video games news
photo
Watch Dogs
Ubisoft
Platforms
PC, Xbox One, PlayStation 4, Nintendo Wii U, Xbox 360, PlayStation 3
Release date
Tuesday, May 27, 2014 (PC)
assignment
Learn more
person

About the author

Raymond Bakker
Journalist and Software Developer at Moonlight Multimedia. He covers the latest video games news from indie to virtual reality and has been actively involved in the video games industry since the early 2000s.
bubble_chart

Read more about

An error has occurred

ZeroLives.com
ZeroLives.com
Get the official mobile app
close
Do you want to receive notifications for breaking news?
Enable notifications
No spam. Just news.
Weekly newsletter
Stay updated with our weekly newsletter. The latest news in your e-mail inbox every Saturday.
done
Do it
close
No thanks!
Thank you for subscribing
close
Close