Carsten Kengeter, CEO of Deutsche Boerse attends the initial public offering of Scale at the Frankfurt stock exchange in Frankfurt, Germany March 1, 2017. REUTERS/Ralph Orlowski
December 21, 2018
FRANKFURT (Reuters) – Deutsche Boerse <DB1Gn.DE> said it was fined a combined 10.5 million euros ($11.9 million) by a Frankfurt court over accusations of insider trading against its former Chief Executive Carsten Kengeter.
The German stock exchange operator said on Friday that it was in the best interest of the company not to legally challenge the court decision, although it deemed the allegations as unfounded.
The court issued fines of 5 million euros and 5.5 million euros over an alleged breach of the insider trading ban in December 2015 and for not making a public disclosure announcement in January 2016, the company added.
(Reporting by Ludwig Burger, editing by Louise Heavens)
