Ringkjøbing Landbobank and an employee were completely acquitted of the charge of participation in price manipulation


This stock exchange notification is send in continuation of the stock exchange notification of the 13 June 2014.

Ringkjøbing Landbobank and an employee were today in the Town Court in Herning acquitted of the charge of participation in price manipulation.

The Public Prosecutor for Special Financial and International Criminality (SØIK) charged on the 13 June 2014 the bank and an employee in a principal case regarding the banks responsibility for a customer transaction in a listed security.

The case concerned one stock exchange transaction totalling DKK 30,000 in a very illiquid property bond made in late 2011. The transaction was made within the price spread at the time of trading.

We are very pleased with the Court's decision confirming the assessment we have had on the case originally.

The bank and the bank’s employee were also acquitted in breaching the duty to notify the Danish Financial Supervisory Authority, cf. Section 37 (6) of the Danish Securities Trading Act.

The Public Prosecutor for Special Financial and International Criminality has until the 31 October 2014 for term for appeal.

 


Attachments

17-10-2014-UK.pdf