Nokian Tyres’ former board face insider trading charges
Nokian TyresNokian Tyres 2015-2016 board members are facing insider trading charges and the company faces a fine of up to 850,000 euros. At least that’s what the public prosecutor in Finland is demanding.
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Prison sentence for Apollo/Cooper insider trading
International NewsA court in the US has sentenced a man to 20 months’ prison for insider trading related to Apollo Tyres’ attempted acquisition of Cooper Tire & Rubber in 2013. The US District Court in Boston gave Amit Kanodia the custodial sentence and, after finding him guilty of conspiracy and securities fraud last year, ordered him to pay a fine of US$200,000 and forfeit a further $252,500.
SEC charges another Cooper/Apollo insider trader
International NewsIn April 2015 the United States Securities and Exchange Commission (SEC) charged two men, long-time friends Amit Kanodia and Iftikar Ahmed, after the pair illegally profited from inside information related to Apollo Tyres’ plan to acquire Cooper Tire & Rubber in 2013. Kanodia, whose wife held the post of general counsel at Apollo Tyres prior to the deal’s announcement and was privy to highly confidential information, also shared details with others. A further ‘close friend’, Steven C. Watson, is now the subject of a further case being pursued by the SEC. The US federal agency submitted its case against Watson to the United States District Court in the District of Massachusetts on 17 November.
Friends charged with insider trading on Apollo/Cooper deal
International NewsTwo men who profited from inside information regarding Apollo Tyres’ plans to acquire Cooper Tire & Rubber in 2013 have been charged by the US Securities and Exchange Commission, and parallel criminal charges have also been filed by the US Attorney’s Office for the District of Massachusetts. The SEC is now attempting to recover more than US$1.1 million made through the illegal trading of Cooper Tire stock.
