*Brazil’s securities regulator (CVM) has accused Miguel Gutierrez, the former CEO of retail giant Lojas Americanas, of insider trading, alongside seven others with links to the company. Lojas Americanas filed for bankruptcy in January 2023 with debts of R$41.23bn (US$7.24bn). The CVM said that it had uncovered “robust” evidence of insider trading, and said that this evidence has now been handed to the attorney general’s office which is carrying out its own investigation into Gutierrez and other former directors at the company.
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LatinNews Daily - 21 October 2024
In brief: Ex-CEO of Brazil’s Americanas accused of insider trading
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