Connect with us

Ubisoft Executives Accused of Insider Trading


Ubisoft Executives Accused of Insider Trading

Group deny accusations

A group of five Ubisoft executives is being investigated by the French stock market regulator, the AMF, for insider trading.

Around three months before the first Watchdogs game and The Crew were delayed in 2013, the execs sold off company shares, and are being accused of doing so knowing that the shares would plummet due to the delay.

CEO Yannis Mallat, VP of Executive Operations Olivier Paris, and VP of Corporate Affairs Francis Baillet are within the group, with two members who have yet to be named.

Mallat spoke to the French-Canadian newspaper La Presse, saying, “I had no information about the delay of Watch Dogs, let alone The Crew, let alone the fact that the announcement would not provide a new launch date which, I think, probably had the most impact.”

Mallat then criticized the AMF, the Autorité des marchés financiers (Financial Markets Regulator), saying, “All our explanations, all our testimonies, all our emails are ignored in a systematic way. Everything shows that the AMF has a poor understanding of how games are made.”

Check Out More:

Continue Reading
More in News
To Top