The CNMV imposes a fine of 300,000 euros on Gerard Piqué and José Elías for operating with privileged information
The ex-footballer benefited from the conversations with the businessman about the offer from Atrys Health to buy Aspy Global
BarcelonaThe National Securities Market Commission (CNMV) has fined the former Barça footballer Gerard Piqué and the businessman and founder of Audax, José Elías, 300,000 euros for operating with privileged information in the acquisition of Aspy Global by Atrys Health, a company of which Elías was CEO when the events occurred.
According to the resolution published this Monday in the Official State Gazette (BOE), Piqué acquired a total of 104,166 shares of Aspy Global Services on January 20, 2021, two days before the company was absorbed by Atrys Health, an operation that Elías allegedly notified him of. The former footballer would subsequently have sold these shares five days after the transaction was completed, on January 27, thereby obtaining an economic profit.
The shares of Aspy Global Services were trading at 2.29 euros on January 19, 2021, while on the 27th – the moment Piqué sold his shares – they were worth 2.8 euros. In this way, the former Barça central defender would have earned around 50,000 euros by obtaining privileged information.
The fines imposed by the CNMV are 200,000 euros for Piqué and 100,000 euros for Elías. In both cases, the regulator considers it a "very serious" infringement of market abuse, as defined in the Securities Market Law. In the case of the owner of La Sirena, the National Securities Market Commission accuses him of "illicit communication" and of sharing "privileged" information about the ongoing offer. As for Piqué, it criticizes his actions for having "abused the market [...] while in possession of privileged information received from Elías".
The resolution of the sanctions is not final, as both the businessman and the footballer can appeal the decision before the National High Court in the contentious-administrative chamber.