"Prosecutors allege that in 2024, the five suspects each sold large blocks of SoftwareOne shares before the company published two press releases that negatively impacted the share price. According to the Swiss public prosecutor's office, the suspects allegedly misused confidential information from the press releases. This allowed them to avoid financial losses of up to 2.49 million Swiss francs, equivalent to more than 3.1 million dollars."
"Swiss company SoftwareOne faced police raids in several European countries this week. Five current or former employees are suspected of insider trading. The company itself has not been charged with any offense and is cooperating fully with the investigation. Offices and homes in Germany, Switzerland, and the United Kingdom were searched as part of an investigation into the trading practices of five non-executive employees. Stans is the location of SoftwareOne's headquarters in Switzerland."
Police executed searches at SoftwareOne offices and at homes in Germany, Switzerland and the United Kingdom linked to an investigation of five current or former non-executive employees suspected of insider trading. Prosecutors allege each suspect sold large blocks of SoftwareOne shares in 2024 before two press releases that lowered the share price, allegedly using confidential information and avoiding up to 2.49 million Swiss francs in losses. The five suspects reportedly held senior positions. SoftwareOne is not charged, says the presumption of innocence applies, and states it is fully cooperating. The company reported recent revenue growth after integrating Crayon despite prior sales declines and continues focusing on cloud services and software licensing.
Read at Techzine Global
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