Deutsche Börse: Court closes proceedings

Release date: 21 Dec 2018 | Deutsche Börse

Deutsche Börse: Court closes proceedings

The District Court of Frankfurt am Main has today issued a fine order against Deutsche Börse AG as an ancillary party after the termination of the preliminary investigation against its former CEO, Carsten Kengeter. The decision provides for fines of EUR 5 million and EUR 5.5 million against Deutsche Börse AG for an alleged breach of the insider trading ban in December 2015 and for an alleged omission of an ad hoc announcement in January 2016.

Following this decision by the District Court the proceedings are concluded. The Executive Board of Deutsche Börse AG had previously decided, after detailed consultation with the Supervisory Board, not to take action against a corresponding fine decision by the District Court. The company remains firmly convinced that the allegations were unfounded. This is supported by the results of extensive audits by several independent external experts. However, after a detailed examination and weighing all relevant aspects, Deutsche Börse AG concluded that a termination of the proceedings on this basis is in the best interest of the company.

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