(Boursier.com) — The former CEO ofOrpea is under investigation for “insider trading”, the national financial prosecutor’s office announced on Monday. Le Canard Enchaîné claimed on February 2 that Yves Le Masne had sold 5,456 shares in the group for more than 588,000 euros three weeks after being informed of the forthcoming publication of the investigation “Les Fossoyeurs”, a book-investigation which accuses Orpea of serious shortcomings in the management of its nursing homes.
In a press release sent to AFP by his lawyer, Yves Le Masne “strongly refuted any accusation of insider trading”. The former executive assured that the sale of “about a third of his shares” had “nothing to do with Mr. Castanet’s book. “The middle of the summer is the period when I usually sell actions, as evidenced by my previously published statements,” he said.
The government has announced that it will present proposals by the end of the month to prevent abuse in nursing homes, and that it is launching a vast control operation within the Orpea group…
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