Reported 11 months ago
In Hong Kong, Segantii Capital Management Ltd. and its founder are facing insider trading charges related to a 2017 block trade involving a 10% stake in Esprit Holdings Ltd. The case alleges Segantii acted on insider information before the deal, causing Esprit's shares to drop by 29% over six consecutive trading days. The trial is closely watched in Asia, with the prosecutors seeking to transfer it to a higher court with potential imprisonment sentences. The case may focus on trading with confidential information and involvement of other individuals like a former Bank of America trader.
Source: YAHOO