29th Sep 2014 16:30
LONDON (Alliance News) - The Financial Conduct Authority Monday said it has charged Paul Gerard Coyle, the former treasurer at Wm Morrison Supermarket PLC, with two offences of insider dealing relating to Ocado shares between February and May 2013.
In May last year, Morrison shares surged after it agreed a deal under which Ocado is providing it with the technology it needs to be able to operate online and distribution services. Morrison is trying to catch up with its main rivals in the supermarket sector, which have well-advanced internet shopping operations.
Wm Morrison shares ended down 0.8% at 169.70 pence Monday.
By Steve McGrath; [email protected]; @stevemcgrath1
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
MRW.L