PARIS (Reuters) - A French criminal court on Thursday fined investment bank Natixis 7.5 million euros ($8.95 million) after finding it guilty of misleading investors in 2007 on its financial strength related to its sub-prime exposure.
FILE PHOTO: The logo of French bank Natixis is seen on one of their buildings in Paris, France, April 7, 2021.
REUTERS/Gonzalo FuentesEric Dezeuze, a lawyer for the bank, said Natixis was lodging an appeal against the ruling as the bank denied any wrongdoing.
The case centred on a statement published in November 2007 by the bank regarding its subprime exposure.
The French financial watchdog AMF also looked into whether Natixis misled investors during the 2007 sub-prime crisis, but decided not to bring any charges against the bank.
Gonzalo Fuentes Eric Dezeuze, Natixis, “ Natixis, ” Dezeuze, Adam
PARIS, REUTERS, AMF