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Evergreen Marine searched in insider trading probe
Taipei authorities searched company premises July 6; 9 individuals face questions
Key Takeaways:
- Taipei prosecutors and the Investigation Bureau searched Evergreen Marine Corp.’s premises July 6 as part of a suspected insider trading investigation.
- The probe relates to a 2023 related-party transaction valued at NT$13.35 billion, or $417 million, United Daily News reported.
- Evergreen Marine said it is cooperating with authorities and that business operations were not significantly affected, according to a stock exchange filing.
Taipei prosecutors and the Investigation Bureau searched Evergreen Marine Corp.’s premises July 6 as part of an investigation into suspected insider trading, according to multiple media reports.
Nine individuals are being questioned by the investigation team, the Liberty Times reported, without identifying the source of its information. The newspaper said multiple search groups were dispatched.
Evergreen Marine confirmed authorities had searched its premises, adding that the company was fully cooperating with the investigation and that there was no significant impact on its business operations, according to a stock exchange filing. The company declined to comment immediately when contacted by Bloomberg earlier.
United Daily News reported that multiple locations were searched, including the homes of family members of some people associated with Evergreen Marine. The probe relates to a related-party transaction announced in 2023 valued at NT$13.35 billion ($417 million).
Evergreen Marine shares closed 0.3% higher July 6, compared with a 0.5% decline in Taiwan’s benchmark stock index.
Evergreen Marine ranks No. 25 on the Transport Topics Top 50 list of the largest global freight companies.
