STMicroelectronics’ supervisory board denies allegations of insider trading

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STMicroelectronics‘ supervisory board on Thursday denied allegations of insider trading concerning two members of the European chipmaker‘s managing board.

The statement came a day after Italy’s economy minister Giancarlo Giorgetti accused STMicro’s management of having sold shares it held a day before reporting negative results.

“Stock sales done during company’s blackout period were made by company’s stock plan administrator, through an automatic procedure,” STMicro said in the statement.

Giorgetti also said the Italian government opposes STMicro’s…



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STMicroelectronics’ supervisory board denies allegations of insider trading


STMicroelectronics‘ supervisory board on Thursday denied allegations of insider trading concerning two members of the European chipmaker‘s managing board.

The statement came a day after Italy’s economy minister Giancarlo Giorgetti accused STMicro’s management of having sold shares it held a day before reporting negative results.

“Stock sales done during company’s blackout period were made by company’s stock plan administrator, through an automatic procedure,” STMicro said in the statement.

Giorgetti also said the Italian government opposes STMicro’s…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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