AMF France v. Tekka Group, Bryan Garnier and Co Limited, B, C and A (false or misleading information, 2015)
Judgment entered
Checked against the primary document on October 5, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, in a single reading of the French decision; an independent second reading of 60 of the AMF records agreed on every field for 54 and on the core fields for 59. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.
In May 2015 the AMF Commission des sanctions sanctioned Tekka Group, its chief executive and the adviser Bryan Garnier and its manager over a flawed 2011 offering, with penalties totalling 625,000 euros, and put an individual charged with spreading false information out of the case.
The record
| Agency | AMF (France) |
|---|---|
| Release number | SAN-2015-10 |
| Date filed | 2015-05-30 |
| Date resolved | 2015-05-30 |
| Court | Commission des sanctions (AMF, France) |
| Status | judgment |
| Asset class | equities |
| Instruments | Tekka Group shares |
| Venue | Alternext (Euronext Paris) |
| Criminal parallel | No |
| Defendants | Tekka Group ; B ; Bryan Garnier and Co Limited ; C ; A |
| Techniques | Misleading issuer disclosure |
What was ordered
- Civil penalty
- —
- Disgorgement
- —
- Prejudgment interest
- —
- Total relief
- —
- Alleged gain
- —
- Penalty as published
- €625k
What is alleged to have happened
The 2nd section of the Commission des sanctions decided this case on 30 May 2015. The AMF's inquiry concerned the initial public offering of Tekka Group on Alternext in early 2011. Notifications of grievances were sent on 9 January 2014 to Tekka, its chief executive B, the adviser Bryan Garnier and Co Limited and its manager C, and an individual, A.
The AMF alleged that Tekka and B misled the public in the offering document of 27 January 2011 and were late in disclosing a deterioration in the annual results. It alleged that A took part in spreading false information through a completion letter prepared for the offering, which it characterised as a breach of the rule against disseminating false information. It alleged that Bryan Garnier and C breached their duties in placing and later selling Tekka shares.
The Commission put A out of the case. It held that the late disclosure had hidden the fact that the company should have given up on the listing, and imposed 250,000 euros on Tekka and 150,000 euros on B. It noted that Bryan Garnier's sales of shares produced a gain of about 95,000 euros and imposed 200,000 euros on it and 25,000 euros on C, a total of 625,000 euros.
The record does not show the full detail of the offering documents, and it does not show whether any respondent appealed.
This library tags the matter as misleading issuer disclosure. The tagging is ours, not the regulator's.
For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the decision.
What technique is this, and how does it work?
This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.
- Misleading issuer disclosure — see how it works, what statute it engages, and every other action tagged the same way.
Timeline
- 2015-05-30 Commission des sanctions decision
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.
Related actions
Other actions in the library sharing at least one technique tag with this one.