Ubisoft Executives Fined Over $1.2M For Insider Trading

Posted by HardOCP News 1:51 PM (CST)

Friday December 09, 2016

The French financial markets authority Autoritأ© des Marchأ©s Financiers just hit five Ubisoft executives with over $1.2 million in fines for insider trading. All but one of the executives in the group says they will appeal the decision.

The decision from France's AMF Sanctions Committee was announced today. A total of over $1.2 million in fines have been levied against the five employees, who are spread across Canada and France. They are said to have sold Ubisoft stock in 2013, motivated by insider knowledge of impending game delays. After revealing The Crew and Watch Dogs would be delayed, Ubisoft's stock experienced a dramatic drop.