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Reuters are reporting an criminal investigation of a Tomtom employee for insider trading.
The investigation by Dutch public prosecutors, the financial services regulator AFM and tax authorities is focussed on a single employee and TomTom's Amsterdam offices were searched yesterday.
The seniority of the employee has not been disclosed although TomTom have stated it is not a board member and there was no evidence to support the claim that the employee had any 'insider information'.
TomTom is understood to be fully cooperating with the investigation.
Comments
Posted by bedbug on Thu Oct 01, 2009 8:11 pm
I'm deeply sceptical about the validity of this story. My experience - and that of most TomTom customers I've met - strongly indicates that nobody within the company has the slightest clue what is going on, much less can leverage their knowledge in any manner useful to themselves or any other individual. The implication that someone at TomTom has a degree of intelligence stretches credulity just that bit too far for me.
I like my TomTom support to be dumb, and they've never let me down yet!
iPhone 4/4S (iOS 5.1.1); TomTom Western Europe (1.10)/USA & Canada (1.10); CoPilot for iPhone (8), UK mapping, Mac OS 10.8/XP Pro/Win7; Tongue firmly in cheek!
Posted by DennisN on Thu Oct 01, 2009 9:56 pm
bedbug Wrote:
I'm deeply sceptical about the validity of this story.
Mange tout mon brave, mange tout!
Dennis
If it tastes good - it's fattening.
Two of them are obesiting!!
Posted by 253 on Fri Oct 02, 2009 6:42 am
I was reading this on one of the Tech sites yesterday, and I think it made the Times Financial as well.
Reports seem to say they went in to look for a named individual in relation to insider dealing.
It may be that the individual is part of a syndicate involved in dealing of other companies shares, and not necessarily TomToms.
I didn't pay a lot of attention to be honest, saw Tom Tom being mentioned and thought it might be about a new or improved product.
Triumph Tbird 1700. And now a Bonnie T100.
Posted by classy56 on Fri Oct 02, 2009 3:29 pm
I saw the thread title and actually thought it was Tomtom being investigated
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Posted by bedbug on Thu Oct 01, 2009 8:11 pm
