Lawyer for State Tax and Economy in Israel today told Daniel Birnbaum, former SodaStream CEO and additional suspect Ayala Sarah Cohen, that she is considering indicting them, after a hearing, on suspicion of internal commercial wrongdoing and perverting the course of justice. According to the indictment, Birnbaum allegedly passed on insider information to Sarah Cohen on two occasions regarding the soft drink manufacturer SodaStream in 2017 and 2018. With the inside information in her possession, Sarah Cohen bought SodaStream shares on three occasions for 450,000 shekels, which they earned around 180,000 shekels. 000 shekels. By working together, the pair also tried to mislead the course of the investigation. Related materials A suspect named in a SodaStream insider trading investigation, PepsiCo is buying Sodastream for $ 3.2 billion. The case has been investigated by the Israel Securities Authority’s Intelligence Investigation and Trading Monitoring Division. Birnbaum and Sarah Cohen are suspected of insider trading, fraud and breach of trust over PepsiCo’s $ 3.2 billion acquisition of SodaStream. Birnbaum was arrested in October 2019 by the Israel Securities Authority and released under house arrest. Birnbaum insists he is innocent and says “the investigation is a bubble that will burst.” Presumption of innocence: Daniel Birnbaum and Ayala Sarah Cohen are only suspects of the aforementioned crimes and have not been convicted of any crime and have the right to the presumption of innocence. Posted by Globes, Israel business news – en.globes.co.il – April 6, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021
An indictment of former CEO of Sodastream based insider trading
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