Mobileye founders implicated in insider trading affair

Prof. Amnon Shashua (center) at CES Photo: PR

According to an indictment filed by the US SEC, Amnon Shashua and Ziv Aviram disclosed information about the acquisition by Intel before it was announced.

The insider trading affair in the Intel-Mobileye deal is ramifying: according to an indictment filed by the US Securities and Exchange Commission in the New York District Court, Mobileye's founders Prof. Amnon Shashua and Ziv Aviram are suspected of offences concerning inside information following the huge deal in which Intel Inc. bought vehicle safety systems company Mobileye for $15.3 billion.

It was reported in the past that a professor of genetics at the Hebrew University of Jerusalem and another person were suspected of breaches of securities law. The pair are believed to have exploited connections with insiders at Mobileye, through their association with the university, where the technology used by Mobileye was developed, and to have bought shares just before the 28% jump in the share price on the day the acquisition by Intel was announced. The two people are believed to have profited to the tune of millions of dollars.

It now emerges that the insiders at Mobileye are none other than the founders. Amnon Shashua is a professor of computer science at the Hebrew University.

Published by Globes [online], Israel business news - www.globes-online.com - on August 16, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Prof. Amnon Shashua (center) at CES Photo: PR
Prof. Amnon Shashua (center) at CES Photo: PR
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