The investigations department of the Israel Securities Authority recently questioned Shufersal Ltd. (TASE:SAE) shareholders Matthew Bronfman and Yakov Shalom Fisher as well as British Jewish property developer Leo Noe.
The three men were questioned over allegations that they had engaged in insider trading when buying securities, a short while before reports surfaced in October 2011 that an agreement had been reached by which and Noe would acquire control of Shufersal from IDB Holding Corp. Ltd. (TASE:IDBH).
In response Bronfman and Fisher, who invested hundreds of thousands of shekels in Isralom bonds at the time, said today, "We acted and we always act according to the law, which guides our movements. We are convinced that the investigation will prove this."
The Israel Securities Authority said, "The authority does not comment on matters concerning investigations."
Published by Globes [online], Israel business news - www.globes-online.com - on December 6, 2012
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