Two Former Volkswagen Engineers Arrested for Rivian Insider Trading
8 Articles
8 Articles
With their knowledge of an upcoming billions deal, two Volkswagen engineers are said to have earned hundreds of thousands of dollars. Now they are indicted in the USA. Previously, they are said to have Googled insider trading.
Two Former Volkswagen Engineers Arrested for Rivian Insider Trading
Two former Volkswagen (VWAGY) engineers have been arrested and accused of insider trading before the automaker announced its $5 billion joint venture with Rivian Automotive (RIVN). Federal prosecutors say that Michael Stamp and Michael Plank used confidential information from their jobs at Volkswagen to trade Rivian shares before the partnership became public on June 26, 2024. Rivian’s stock jumped 23% after the announcement, since it gave the e…
Two former Volkswagen employees have been charged on suspicion of insider trading. The two engineers bought shares in the American car manufacturer Rivian before it became known that it was entering into a partnership with Volkswagen worth 5 billion dollars.
Ex-VW Engineers Charged With Insider Trading on Rivian Venture
Volkswagen Engineers Charged With Insider Trading Tied To Rivian Joint Venture - What's New In The World?
The US Department of Justice has charged two Volkswagen engineers with securities fraud over an alleged insider trading scheme linked to the German automaker’s joint venture with Rivian. Indictmentrevealed on Friday by the US Attorney for the Southern District of New York, alleges that Michael Stump and Marcus Blank obtained more than $300,000 using confidential The post Volkswagen engineers charged with insider trading tied to Rivian joint vent…
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