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French police search three banks in probe
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08:36, May 20, 2009

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Police on Tuesday morning searched the headquarters of French bank Natixis and its two parent companies, as part of an investigation into allegations it misled its shareholders, local media reported.

The police also searched the offices of Banque Populaire and Caisse d'Epargne, which jointly own Natixis, following a complaint filed in February accusing Natixis of releasing misleading information.

A group representing about 90 shareholders filed the complaint against Natixis for "dissemination of misleading information, presentation of inaccurate accounts, distribution of fictitious dividends and presentation of a false balance."

None of the three banks has commented on the case so far, according to the media.

Natixis shares sold for 19.55 euros when it was first listed in2006, but were trading at 1.42 euros at the close of the trade on Monday.

The bank specializes in investment and asset management activities.

Source:Xinhua



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