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Saipem: Milan prosecutor's office investigates insider trading and insider trading

The Milan prosecutor's office has opened a file on Eni's subsidiary, hypothesizing the crime of market manipulation and insider trading – The investigation moves on the findings made by Consob against Saipem.

Saipem: Milan prosecutor's office investigates insider trading and insider trading

Saipem ends up in the sights of the Milan prosecutor's office. At the center of the investigation was the enormous placement of securities (10 million shares, 2,3% of the capital) carried out last January by the Eni subsidiary, on the eve of the first profit warning made by the company. The hypotheses of crime would be insider trading and insider trading.

The investigations by the investigators, who have currently opened a file against unknown persons, are moving on the basis of the three findings made by Consob to Saipem in recent months: the contestation of the 2012 financial statements, the delay in the profit warning of last January 29 and the irregularities unreported internal audit and external consulting related to the period June 2011-September 2012.
 

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