German watchdog opens DaimlerChrysler insider probe

Newswire

STUTTGART, Germany, Aug 17 (Reuters) - German financial regulator BaFin has opened a formal investigation of possible insider trading of DaimlerChrysler shares before the resignation of its chief executive, BaFin said on Wednesday. A spokeswoman said the watchdog had concrete indications of improper deals in the carmaker's stock before it announced on July 28 that Juergen Schrempp would step down at the end of the year, sending its stock more than 10 percent higher. "The indications have ...

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