LY (TYO:4689) said the Securities and Exchange Surveillance Commission (SESC) recommended an administrative monetary penalty payment order against a former employee of its overseas subsidiary, according to a Friday filing on the Tokyo Stock Exchange.
The employee allegedly purchased shares of Demae-can (TYO:2484) based on non-public information before LINE Corporation's March 26, 2020, disclosure regarding a share acquisition and capital alliance with Demae-can.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.