Chill Brands CEO Suspended for Alleged Insider Trading Actions
According to Reuters on April 22, e-cigarette manufacturer Chill Brands (CHLL.L) issued a statement on Monday (22nd) stating that its CEO Callum Sommerton has been suspended from his position due to allegations of insider trading. The company has appointed the law firm Fieldfisher to conduct an investigation.
Somerton expressed surprise and disappointment at the accusations. In a response on LinkedIn, he said, "I believe I can prove my innocence and will refrain from further comment at this time to allow the investigation process to continue." The company stated that they are currently in the process of appointing an interim president to ensure the smooth operation of the company, and will work with relevant departments such as the Financial Market Regulatory Authority to release the investigation results at the appropriate time.
Chill Brands company focuses on e-cigarette products without nicotine. Earlier this year, when the UK government announced a ban on disposable e-cigarettes, the company's stock price briefly plummeted but has since recovered.
Disclaimer:
This article is translated from an original Chinese article available on 2firsts.cn by AI, and has been reviewed and edited by 2FIRSTS's English editorial team. The Chinese original text is the only authoritative source of information. The exclusive copyright and license rights to this article are held by 2FIRSTS Technology Co., Ltd. Any reproduction, reprinting, or redistribution of this article, either in part or in full, requires express written permission from 2FIRSTS and must include clear attribution along with a link to this content. Non-compliance may result in legal action. 2FIRSTS Technology Co., Ltd. reserves the right to pursue legal actions in case of unauthorized use or distribution.
