AB Science : The Paris Court of Appeal confirms the acquittal of the CEO of AB Science, Alain Moussy, and reduces the amount of the financial penalty imposed on AB Science
THE PARIS COURT OF APPEAL CONFIRMS THE ACQUITTAL OF THE CEO OF AB SCIENCE, ALAIN MOUSSY, AND REDUCES THE AMOUNT OF THE FINANCIAL PENALTY IMPOSED ON AB SCIENCE
- THE PARIS COURT OF APPEAL CONFIRMS THE ACQUITTAL OF THE CEO OF AB SCIENCE, ALAIN MOUSSY, AND REDUCES THE AMOUNT OF THE FINANCIAL PENALTY IMPOSED ON AB SCIENCE
AB Science SA (Euronext - FR0010557264 - AB) and the Chairman of the French market regulator (Autorité des Marchés Financiers - AMF) had filed an appeal to the Paris Court of Appeal against the decision of the AMF Sanctions commission, dated March 24, 2022, which acquitted Alain Moussy, CEO of AB Science, for an alleged insider trading and sanctioned AB Science for a failure to comply with some of its communication obligations (as part of the assessment of conditions for a deferral of privileged information publication), as indicated in the AB Science press release of March 29, 2022. - The Paris Court of Appeal confirmed the fully acquittal of Alain Moussy and reduced by 200,000 euros the amount of the financial penalty pronounced against AB Science.
- This amount of 200,000 euros will have to be reimbursed by the French Treasury, as AB Science has paid the full financial penalty initially pronounced by the AMF Sanctions commission on March 24, 2022.