(CercleFinance.com) – The title AB Science is severely sanctioned Monday at the Paris Stock Exchange, where the value accuses one of the strongest drops of the market following information evoking the prospect of a heavy fine from the AMF.
According to several market sources, the Sanctions Commission of
the Autorité des Marchés Financiers (AMF) would have required six million euros in fines for acts of insider trading.
In a note released in the morning, Invest Securities analysts indicate that during a public hearing held on Friday, the representative of the AMF College demanded a fine of one million euros against biotech for failing to fully inform investors.
The main decision-making body and the prosecuting authority of the stock market policeman would also have requested a fine of three million euros against its managing director, Alain Moussy, and two million euros against a financial adviser for insider trading, adds Invest.
The stockbroker recalls that the European Medicines Agency (EMA) issued an unfavorable opinion in April 2017 concerning the marketing application concerning mastocytosis.
According to the representative of the AMF college, whose remarks are echoed by Invest Securities, AB Science was aware that a negative opinion could probably be issued as early as March 7, 2017, following the organization of a teleconference.
‘However, between March and May 2017, the biotech carried out two fundraisers of 15 and 19 million euros at the end of March’, underlines the intermediary.
It should be noted that the AMF also criticized Alain Moussy, its managing director, for having used this privileged information to sell part of its shares.
In a press release published Friday evening, AB Science and Alain Moussy strongly contested these grievances.
Around 2:30 p.m., the title fell by 8.7% in volumes already representing three times those traded in the full session on Friday.
The decision of the AMF Sanctions Committee should be rendered within four to six weeks.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
Are you following this action?
Receive all the information about AB SCIENCE in real time: