South Korean authorities are investigating whether or not Hyundai execs profited from trading Hyundai stock before reporting the “Apple Car” deal had been paused.
This report comes from Reuters claims the chairman of the FSC has told a parliament committee member that investigation may begin next week. “Reviews are to examine whether there is any suspicion (of wrongdoing) or not,” a spokesperson told Reuters. “The length of such reviews varies with each case, and the exchange will communicate findings to the FSC.”
Reuters estimates a total of 3400 shares were traded by insiders worth approximately $753,000