Daniel Birnbaum, Soda Stream chairman is the suspect suspect using insider information

Daniel Birnbaum, Soda Stream chairman and CEO until recently, is the company's senior suspect in using insider information around the company's exits and its acquisition by PepsiCo. This, along with another suspect, close to him, had previously worked for the company.
Birnbaum was investigated by Investigative and Intelligence Department investigators at the Securities and Exchange Commission on suspicion of committing offenses involving the use of insider information, fraud and breach of trust. Birnbaum's name was not banned until 16:00 today, after Birnbaum requested and received a temporary bans on his details. However, the order was valid, and Bierenbaum did not apply for his extension, his name was allowed for publication. The name of the additional suspect is still not allowed for publication.
Soda Stream, a company that manufactures home appliances to make carbonated beverages and beverages to enrich the flavor of the drink, has made headlines this past year, largely as a result of the incredible exit, through which the international beverage company PepsiCo acquired Israeli company for $ 3.2 billion.
Birnbaum served as Soda Stream CEO in 2007 after being acquired by the Fortisimo Foundation for $ 1 million. The merger required PepsiCo to pay him a $ 4 million cash grant as well as a $ 10 million pre-tax equity grant that would mature over a three-year period. Of three years.
About a year after the exit, Birnbaum announced his retirement from the position of CEO and transition to the chair, and his shoes have entered the month this month, Eyal Shochat (45), who has served as deputy CEO for the past two years.
The PepsiCo deal is now at the heart of the securities investigation. It is suspected that Birnbaum, who is an insider in the company by virtue of being the CEO of Sudhester Company during the relevant suspicions, provided insider information to his associate, who had previously worked in the company, and who operated in Sudhester shares using this insider information.
Internal information referred to the Company's material and positive reporting of August 1, 2018, which related to its positive financial results for the second quarter of 2018; And the Company's significant and positive immediate reporting of August 20, 2018, in relation to information about the Company's acquisition of PepsiCo. Following the two reports, the company's share price rose sharply.
It is suspected that the close associate of Birnbaum used the insider information provided to him and purchased the company's shares for hundreds of thousands of shekels before the publication of these reports. It is suspected that as a result of this prohibited activity, a graph that approximates prohibited financial profits in the account totaled NIS 156,000.
A similar suspicion of using insider information also surfaced against previous activities of close associates in Soda Stream shares, prior to the company's positive report of February 15, 2017, regarding the results of the company's periodic and annual report for 2016, followed by a sharp rise in the share price. It is suspected that as a result of this prohibited activity, a graph that approximates prohibited financial profits in the account totaled about NIS 28,000.
Following the completion of the merger with PepsiCo, Sudhester shares were deleted from the Tel Aviv Stock Exchange listing.
As part of the investigation, Birnbaum attributed offenses of the use of insider information, according to section 52c of the Securities Law as well as fraudulent offenses and breach of trust in a corporation under section 425 of the Penal Code. Related to him are attributed to offenses of the use of insider information, according to section 52c and 52d of the Securities Law, as well as an offense of disruption of legal proceedings.
As part of the investigation, additional persons involved in the case were investigated. A statement by the Securities and Exchange Commission's investigators to determine the restrictive conditions to be imposed on Birnbaum, in view of the scope of the investigation file, was not completed by investigators, the Intelligence and Commerce Department of the Securities Authority, and for further investigation, additional investigations and investigations would be required.
Birnbaum made headlines this year as he joined the cannabis wave. Among other things, Birnbaum has invested in the cannabis cannabis company, which was founded and managed by CEO Yaron Ratzon and chairman Ami Sessler, and establishes a cannabis growing farm. At the beginning of the year, the company signed an investment agreement with a group of investors led by Barak Rosen, one of the controlling shareholders in the real estate company Israel Canada, with Sudhster CEO Birnbaum, also a partner. The group led by Rosen invested NIS 32 million in cannabit shares, at a share price of NIS 2.4, to buy 52% of the company's shares.