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Coudree Capital Aware Of SEC Insider Trading Suit
ZURICH — Geneva-based investment firm Coudree Capital Gestion SA Monday said it was aware of a U.S. Securities and Exchange Commission lawsuit against itself and two other Swiss investment firms in connection to alleged insider trading ahead of Lonza Group AG’s $1.2 billion takeover of U.S. peer Arch Chemicals Inc. .
“We are aware of the lawsuit,” a spokeswoman for Coudree said, adding that the company is declining to make any further comment.
The SEC earlier Monday filed a civil lawsuit in the federal court in Manhattan, accusing investment firms Coudree, Compania Internacional Financiera SA and Chartwell Asset Management Services of improperly trading shares of Arch Chemicals ahead of Lonza’s bid last Monday. Lonza offered a surplus of more than 30% to Arch Chemical’s share price.
Neither Compania Internacional nor Chartwell could be immediately reached for comment. Also, neither Lonza, which late last week started the tender offer to acquire the U.S. peer’s outstanding shares, nor Arch Chemicals could be immediately reached for comment.
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