CELEX: C2007/140/02
Language: en
Date: 2007-06-23 00:00:00
Title: Case C-391/04: Judgment of the Court (Third Chamber) of 10 May 2007 (reference for a preliminary ruling from the Simvoulio tis Epikratias (Greece)) — Ipourgos Ikonomikon, Proistamenos DOI Amfissas v Charilaos Georgakis (Directive 89/592/EEC — Insider dealing — Meaning of inside information and taking advantage of inside information — Stock-market transactions agreed on in advance and carried out within a group of persons capable of being insider dealers — Artificial increase in the price of transferable securities disposed of)

23.6.2007   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               C 140/2
            
         Judgment of the Court (Third Chamber) of 10 May 2007 (reference for a preliminary ruling from the Simvoulio tis Epikratias (Greece)) — Ipourgos Ikonomikon, Proistamenos DOI Amfissas v Charilaos Georgakis
   (Case C-391/04) (1)
   
   (Directive 89/592/EEC - Insider dealing - Meaning of ‘inside information’ and ‘taking advantage of inside information’ - Stock-market transactions agreed on in advance and carried out within a group of persons capable of being insider dealers - Artificial increase in the price of transferable securities disposed of)
   (2007/C 140/02)
   Language of the case: Greek
   Referring court
   Simvoulio tis Epikratias (Council of State) (Greece)
   Parties to the main proceedings
   
      Applicant: Ipourgos Ikonomikon (Greek Minister for Economic Affairs), Proistamenos DOI Amfissas (Tax authority of Amphissa)
   
      Defendant: Charilaos Georgakis
   Re:
   Reference for a preliminary ruling — Simvoulio tis Epikratias — Interpretation of Articles 1 to 4 of Council Directive 89/592/EEC of 13 November 1989 coordinating regulations on insider dealing (OJ 1989 L 334, p. 30) — Concept of possessing and making use of inside information
   Operative part of the judgment
   Articles 1 and 2 of Council Directive 89/592/EEC of 13 November 1989 coordinating regulations on insider dealing must be interpreted as meaning that, when the main shareholders and members of the board of directors of a company agree to effect between themselves stock-market transactions in the transferable securities of that company in order to support artificially the price of those securities, they are in possession of inside information of which they do not take advantage with full knowledge of the facts when they carry out those transactions.
   
      (1)  OJ C 273, 06.11.2004.