Lavipharm SA distances itself from board member under investigation by US
- Written by E.Tsiliopoulos
"The case of Telemachus Lavidas is not related to the company," Lavipharm SA said in a statement.
On the occasion of yesterday's reports referring to the name of Telemachus Lavidas, a member of the Board of Directors of Lavipharm SA, regarding a case being investigated by the US Authorities, Lavipharm SA, in its announcement today, states that "the case is in no way related. with the company".
The same announcement notes that "the handling of the case, for which Telemachos Lavidas has pleaded not guilty, has been undertaken by his lawyers in America."
Telemachos Lavidas and George Nikas are involved in an insider trading case, namely for the unlawful exchange of confidential information.
Details of Lavipharm SA announcement:
"On the occasion of yesterday's publications citing the name of Mr Telemachos Lavidas, a member of the Board of Directors of Lavipharm SA, regarding a case being investigated by the US authorities, Lavipharm SA informs that the case is in no way related to the Company. His lawyers in the United States have handled the case, which Mr Telemachos Lavidas has pleaded not guilty to. "
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