Gianfelice Rocca

Italian court dismisses case against Tenaris’s Chairman and Chief Executive Officer and two other Board members over allegedly improper payments

Retrieved on: 
Thursday, May 26, 2022
Company, Tenaris, TEN, EXM, Board, Gianfelice Rocca, NYSE, GLOBE, Online gambling, Extrusion

LUXEMBOURG, May 26, 2022 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) was advised today that the Milan court of first instance overseeing an investigation in Italy into allegedly improper payments made in Brazil prior to 2014 for the supposed benefit of Confab Industrial S.A., a Brazilian subsidiary of the Company, dismissed for lack of jurisdiction the case brought by the public prosecutor against each of Tenariss Chairman and Chief Executive Officer Paolo Rocca and Board members Gianfelice Rocca and Roberto Bonatti, and the Companys controlling shareholder, San Faustin S.A..

Key Points: 
  • LUXEMBOURG, May 26, 2022 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) was advised today that the Milan court of first instance overseeing an investigation in Italy into allegedly improper payments made in Brazil prior to 2014 for the supposed benefit of Confab Industrial S.A., a Brazilian subsidiary of the Company, dismissed for lack of jurisdiction the case brought by the public prosecutor against each of Tenariss Chairman and Chief Executive Officer Paolo Rocca and Board members Gianfelice Rocca and Roberto Bonatti, and the Companys controlling shareholder, San Faustin S.A..
  • The court stated that the criminal proceeding should not even have been initiated.
  • The public prosecutor may appeal the decision.
  • Tenaris is a leading global supplier of steel tubes and related services for the worlds energy industry and certain other industrial applications.

Tenaris’s Board of Directors Provides Full Support to its Chairman and Chief Executive Officer and two other Directors

Retrieved on: 
Friday, February 14, 2020
Techint, Companies, Government, Economy, Paolo Rocca, Tenaris, Gianfelice Rocca, Rocca, TS, Bonatti, Prosecutor

LUXEMBOURG, Feb. 14, 2020 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE, Mexico: TS and MTA Italy: TEN) today issued the following statement:

Key Points: 
  • LUXEMBOURG, Feb. 14, 2020 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE, Mexico: TS and MTA Italy: TEN) today issued the following statement:
    Tenaris has been advised that the Italian court overseeing the investigation into alleged improper payments made in Brazil for the supposed benefit of Confab Industrial S.A., a Brazilian subsidiary of the Company, has decided to move the case to trial.
  • The case involves Chairman and Chief Executive Officer Paolo Rocca and Board members Gianfelice Rocca and Roberto Bonatti, and the Companys controlling shareholder, San Faustin S.A.
  • The Companys outside counsel previously reviewed the Italian prosecutors investigative file and has informed the Board that neither that file nor this magistrates decision sets forth evidence of involvement by any of the three directors in the alleged wrongdoing.
  • Accordingly, the Board has concluded that no particular action is warranted at the present time, other than inviting the referred board members to continue discharging their respective responsibilities with the full support of the Board.