Three at SAP ordered to pay in insider case
Article Abstract:
SAP AG of Germany has seen three unnamed employees fined for selling company stock ahead of poor earnings results as part of an insider-scandal in the software firm. Hessian State Attorney's Office spokesman Job Tilmann said the workers had only been a little guilty since they were not aware of the disappointing third-quarter earnings in 1996. SAP's three employees, one of whom reportedly sits on an executive board and another on extended management board while the last is an ordinary employee, faces fines ranging from 50,000 marks to $68,550, 120,000 marks.
Comment:
Sees three unnamed employees be fined for selling company stock ahead of poor earnings results as part of an insider-scandal
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Head of SAP's U.S. unit is leaving for startup
Article Abstract:
SAP AG of Germany announced that Paul Wahl, the CEO of its subsidiary in the US, will be resigning from his post. Mr. Wahl is leaving SAP to join a start up software firm in Silicon Valley. Mr. Wahl has been in charge of SAP's operations in the US since 1996. Kevin McKay, the unit's present chief operating officer, will replace Mr. Wahl immediately. The announcement caught many people in the industry by surprise.
Comment:
Announces that Paul Wahl, the CEO of its subsidiary in the US, will be resigning from his post
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: SAP is sued by FoxMeyer trustee. Shareholders file insider lawsuit against Baan. Computer 2000 is selling stake in AmeriQuest
- Abstracts: SAP likely to meet profit goal. SAP says net fell 7% on strategy errors
- Abstracts: Agencies warned to adapt. Battle of the big four
- Abstracts: British Biotech signals a shift in its strategies. Glaxo unveils manufacturing overhaul. Viagra poses dilemma for Europe's tradition of state-funded care
- Abstracts: EMI considers acquiring Seagram's PolyGram unit. EMI, Launch have deal for music on the Internet. Applied Power to acquire Rubicon for $347.8 million