Edgar Bronfman Jr. Questioned By French Court
July 2, 2007 at 5:35 AM (PT)
WARNER MUSIC CEO EDGAR BRONFMAN JR. was questioned by a PARIS court last week as part of an inquiry into alleged insider trading at VIVENDI UNIVERSAL (now VIVENDI SA) in 2002, French daily LES ECHOS is quoted in a report in FORBES.
BRONFMAN, formerly a board director at VIVENDI UNIVERSAL, was questioned for more than 10 hours last THURSDAY, regarding the sale of VIVENDI shares at the start of 2002, the sources told the paper.
Not long after BRONFMAN sold his shares, VIVENDI launched a share buyback program which was expected to be followed by a sharp drop in the share price, LES ECHOS said.