The Polish Financial Supervision Authority (KNF) has issued a press release in connection with suspected share manipulation pursuant to Article 15 of the Market Abuse Regulation (MAR). Specifically, the KNF informs that it has adopted a resolution to forward to law enforcement agencies and to inform the public of suspected cases of share trade manipulation involving Inno-Gene SA, a company listed on the NewConnect market operated by the Warsaw Stock Exchange. The company allegedly provided „false data“ regarding its activities and shares in 2020 which caused share prices to be inflated, deceiving investors and clients alike. The actions constitute serious violations of the MAR and are punishable by law via fines or even imprisonment.
The KNF concludes by noting that it is important to disclose this information to investors to make them aware of possible risks when trading securities of the firm.
Zawiadomienie o podejrzeniu popełnienia przestępstw manipulacji w obrocie akcjami Inno-Gene SA oraz podawania nieprawdziwych danych
ID
24748
Other Features
companies
disclosure
investor warning
investors
notifications
penalties
restrictions
risk
shareholders
trading
Date Published: 2023-08-29
Regulatory Framework: Market Abuse Regulation (MAR)
Regulatory Type: information
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