HALISTER: Kerviel Must Pay 1 Million Euros to SocGen, French Judges Say

Kerviel Must Pay 1 Million Euros to SocGen, French Judges Say

(Bloomberg) -- Jerome Kerviel was ordered to pay Societe Generale EU1m in damages as French judges say Societe Generale shares blame with convicted rogue trader because of failings in control systems.
  • Three-judge panel led by Patrick Wyon gives ruling Friday
  • Ruling of Versailles court of appeals closes trial to determine how much Kerviel owes bank for EU4.9b trading loss over eight years ago
  • SEE: Kerviel Gets Boost as Prosecutor Says He Owes SocGen Nothing Link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
GLE FP (Societe Generale SA)

People
Jerome Kerviel (Lemaire Consultants & Assoc)

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