When news broke last month that five Ubisoft executives were accused of insider trading by a French stock market regulation committee, things didn't look bright for those men. They offloaded some of their shares of Ubisoft in the weeks before the publisher announced delays that caused its value to drop by 25 percent. It seemed like a cut-and-dry case, a textbook example.
Today, The Autorité des marchés financiers (AMF) ruled on the matter and found all five executives guilty of insider trading. As reported by Kotaku, they were all hit with sanctions of varying amounts. Ubisoft Montreal CEO Yannis Mallet was fined the most at €700,000. The others figures were €200,000 for Francis Baillet and Christine Burgess, €100,000 for Olivier Paris, and €15,000 for Damien Moret. In total, this is approximately $1.28 million. The AMF's decision can be found here, but it's only available in French.
Ubisoft isn't ready to wave the white flag yet. In a message to Kotaku, representatives confirm that the French publisher intends to appeal the AMF's findings. Here's Ubisoft's unabridged statement:
via destructoid http://ift.tt/2hei2z9