07 Jan 2019
The Frankfurt prosecutor’s office has dropped an insider trading case against former Deutsche Boerse (DB1Gn.DE) Chief Executive Carsten Kengeter in exchange for payments of almost 5 million euros ($5.68 million).
Prosecutors investigated Kengeter after he purchased Deutsche Boerse shares worth 4.5 million euros in December 2015 as part of a management remuneration plan awarded only two months before the German company announced it was in talks to combine with London Stock Exchange (LSE.L).
Frankfurt prosecutors had sought to establish whether the share purchase constituted share trading by someone privy to insider information.
Deutsche Boerse has denied wrongdoing and a spokesman for Kengeter, who has not been charged with any crime, reiterated that the former CEO denies wrongdoing.
– By Hans Seidenstuecker, Reuters, 2 January 2018.
Link to Reuters.
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