Yves Le Masne sold 5,456 of his Orpea titles for the tidy sum of 588,157 euros, three weeks after learning of the next publication of the shocking book The Gravediggers.
The revelations about the Orpea group never end… Yves Le Masne, former managing director sacked on Sunday evening, sold 5,456 of his Orpea shares three weeks after learning about the preparation of the book The Gravediggers of journalist Victor Castanet, according to the Chained Duck. Information confirmed by the registers of the Autorité des marchés financiers, which can be viewed online.
Read alsoShared housing, shared accommodation… What alternatives to nursing homes for seniors?
SEE ALSO – Brigitte Bourguignon denounces the “cynicism” of the former CEO of Orpea who would have sold his shares just before the scandal
Read alsoEhpad: in the turmoil, Orpea prepares its counter-attack
On July 29, Yves Le Masne put up for sale, in three separate operations, 5,456 Orpea shares at a price of 107.80 euros each. In accordance with the law, as a corporate officer of a listed company, he informed the AMF on August 4, 2021. Thanks to this sale, he pocketed 588,157 euros. At that time, the Orpea share was worth no less than 107 euros. A value that has unscrewed since the release of Victor Castanet’s book, pointing to serious dysfunctions within the company and which caused an outcry in public opinion. The action now stands at 40 euros, down 60% from this summer.
“The authorities will examine this case with the person concerned”
But this nice blow on the stock market could be likened to a “ insider trading “. It is still necessary to recall that Yves Le Masne regularly sold Orpea shares, according to the records of the AMF. He had sold some 750 shares in April 2020 at 94 euros or 2,725 shares at 111 euros in November 2019. According to Orpea’s 2020 universal registration document, Yves Le Masne held 20,000 shares as of December 31, 2020. Contacted by Le Figaro, Orpea dissociates itself from its ex-boss: “ He is no longer part of the company. We do not comment on this subject“says the company.
Asked about this on BFM TV, his successor at the head of Orpea, Philippe Carrier did not comment on the question: “This is a question that affects Yves Le Masne, but not society. (…) The authorities will examine this case with the person concerned, he may have had good reasons but I will not judge him for the authorities.“. For his part, Philippe Charrier, meanwhile, bought 600 Orpea shares on October 11 and 15, 2021. The share price then amounted to a high price of 94 euros on average.
SEE ALSO – Abuse: the new CEO of Orpea promises to shed “full light on these events”
Read alsoOrpea scandal: the obstacle course of families to get their loved ones out of nursing homes
The government announced on Tuesday the launch of two investigations into Orpea. One is entrusted to the General Inspectorate of Social Affairs (IGAS), focused on acts of mistreatment and human resources; the other to the General Inspectorate of Finance (IGF), focused on the use of public funds and suspicions of troubled financial practices.