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France’s financial prosecutor revealed it has been investigating food retail group Casino for financial manipulation and insider trading that allegedly took place in 2018 and 2019 when the group was locked in a battle with short sellers while struggling under heavy debts.
The prosecutor’s office said in a statement that the preliminary probe, which was opened in 2020 following a report from the AMF markets regulator, was looking into potential charges related to “stock price manipulation” carried out by a group of people, as well as corruption and “insider trading”.
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