A man who falsely claimed that he owned a 305 million-euro ($305 million) stake in IT firm Atos SE was fined just 800 euros by French regulators.
(Bloomberg) — A man who falsely claimed that he owned a 305 million-euro ($305 million) stake in IT firm Atos SE was fined just 800 euros by French regulators.
Dylan Dariah — who said last year in a filing to have more than a 5% holding in Atos when in fact he didn’t own a single share — apologized to French investigators after admitting to lying, according to the Autorite des Marches Financiers. He told them he “hadn’t measured the scope of his actions” and the fact that they could be viewed as market manipulation.
The AMF said in its settlement decision that the publication it made in May 2021 that contained the ownership claim “seemed not to have had any impact on the share price.”
The regulator added that the “very small” fine — payable in eight monthly installments — “takes into account the very low resources” of Dariah.
Frederic Peltier, a lawyer for Dariah, declined to comment on the fine. Atos declined to comment on the settlement dated April 27 decision and published on Tuesday.
Read more: Atos Files Criminal Complaint in France Over Declaration
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
