Successful representation of defendants in high-profile market abuse case

01/02/2017 During October 2016 – January 2017, Souriadakis Tsibris participated in the team of lawyers representing several defendants accused of market manipulation in relation to trades performed during 2010 in the formerly ATHEX-listed blue chip stock of ALAPIS.

All defendants were declared innocent by a majority decision of the three-member Magistrate Court of Athens, following the application of the new Law 4443/2016 implementing Directive 2014/57/EC (CSMAD), which provides for certain quantitative limits to be taken into consideration when national authorities decide whether to impose or not, criminal sanctions for serious market abuse law violations.