DutchNews.nl - Insider trading investigation at TomTom

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Insider trading investigation at TomTom

Thursday 01 October 2009

The public prosecution department has begun a criminal investigation into possible insider trading at satellite navigation systems maker TomTom.

A team of some 20 officials including investigators from the public prosecution department, financial services regulator AFM, and two finance ministry intelligence units, were at TomTom's offices on Tuesday.

The focus of the investigation is not yet clear. In a statement to news agency Reuters, TomTom said: 'The investigation focuses on one of our employees but we have no indication that this person had any insider information.' The person involved is not a board member, the spokesman told Reuters.

However, Dutch newspapers suggest the investigation may focus on a senior financial executive.

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Readers' comments

This is a company to avoid. They might have started nicelly 10y ago, but now they are big, arrogant and with very low business practices. And dont get me started...

What goes around, comes around!

By Stan | October 1, 2009 10:08 AM

Do tell more Stan, this this company was riding a high wave

By Doris | October 1, 2009 11:23 AM

Give them the maximum punishment, those greedy pigs!

By sandra | October 2, 2009 7:17 AM

At this point, i'll just say - better try staying away from them, if you're stakeholder, debtor, or have some long term contractual claims to them. The high wave shall come with respective professionalism.

And I hope someone checks their cash positions too.

By stan | October 2, 2009 9:01 AM

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