PARIS — Four people were charged with involvement in insider trading in the period before Groupe Clarins was taken private in 2008, according to the French market regulator AMF.
This story first appeared in the December 15, 2010 issue of WWD. Subscribe Today.
Fines for Abel Sberro, Patrice Bourgeois, Arnaud Bezzina and Olivier Hoën range from 10,000 euros to 650,000 euros, or $13,414 to $871,783 at current exchange.
Meanwhile, three unnamed people were cleared of the charge and Pascal Koskas was served a warning.
In late June 2008, the Courtin-Clarins family announced its plan to initiate a tender offer to take Clarins off the stock market, where it had been traded for 24 years. The tender offer took place from Aug. 6, 2008, to Sept. 16, 2008. By late September 2008, Financière FC, the holding company controlling Clarins, had acquired enough shares to delist it from the Paris stock exchange.