Seedo… extra like seedy!
Under is the press launch I used to be joyful to regurgitate however first thought a easy Google search ought to have been at hand. The analysis revealed the next..
I assume he falls into the previous class of criminals.. possibly he can get some type of fairness license down the street.
Birnbaum handed on privileged data to Ayala Cohen, a former worker of the corporate, who purchased SodaStream shares, promoting them for a big revenue.
Former Sodastream CEO faces costs of insider buying and selling
Based on the indictment, Birnbaum, who served as CEO of home-brewed soda firm SodaStream for 12 years, was in shut contact with Cohen and gave him details about two main occasions. Cohen used the knowledge given to her to purchase the corporate's shares.
In July 2020, the Israel Securities Authority accomplished its investigation into the matter and forwarded the case to the State Lawyer.
The primary of the 2 occasions passed off in February 2017, earlier than SodaStream revealed a monetary report, which confirmed a 213% improve in web revenue for the fourth quarter of 2016, in comparison with the corresponding quarter of 2015. Cohen is was given details about the outcomes earlier than. had been revealed. Two days earlier than publishing the outcomes, Cohen purchased SodaStream shares for NIS 150,000, with many of the cash in his checking account. He then offered the shares with a revenue of NIS 28,000.
The second event was in July 2018, after Birnbaum met with the CEO and president of Pepsico, who agreed to purchase SodaStream and earlier than the publication of the corporate's robust second quarter outcomes for 12 months.
Birnbaum ordered Cohen to instantly make investments all of his financial savings in firm inventory. Cohen realized that Birnbaum had inside data and instructed his banker to purchase NIS 200,000 of SodaStream shares from his checking account and one other NIS 100,000 in shares from a financial savings account.
Quickly after SodaStream mentioned it signed an settlement to be acquired by PepsiCo, and a day after the monetary report was revealed, Cohen offered all his shares for a revenue of NIS 156,000.
Presumption of innocence: Daniel Birnbaum and Ayala Cohen are solely suspects and haven’t been convicted of any offense and as such deserve the presumption of innocence.
Supply: https://en.globes.co.il/en/article-former-sodastream-ceo-daniel-birnbaum-indicted-for-insider-trading-1001396503
Former SodaStream CEO sentenced to 60 days in jail
Daniel Birnbaum admitted to insider buying and selling and the court docket accredited a plea discount settlement with the state lawyer.
The court docket accredited the settlement between Birnbaum and the state lawyer and sentenced him to 60 days in jail, a further 5 months of suspended sentence and a nice of NIS 50,000. In setting the nice, the Tel Aviv District Courtroom choose took into consideration Birnbaum's dedication to donate an analogous quantity to the battle effort. Within the sentence, the choose additionally talked about Birnbaum's help to the general public and troopers in the course of the battle up to now.
Former SodaStream CEO Daniel Birnbaum accused of insider buying and selling
In 2018, SodaStream was offered to PepsiCo for $3.2 billion. Birnbaum, who grew to become CEO in 2007 after the corporate was acquired by non-public fairness fund Fortissimo, was convicted of crimes in 2017 and 2018 when he supplied data to Ayala Cohen, a former shut affiliate of the corporate.
Cohen was knowledgeable about enterprise developments, together with an upcoming optimistic monetary report and expressed curiosity in shopping for shares to reap the benefits of the knowledge supplied by Birnbaum in regards to the firm and its dealings. Birnbaum tried to dissuade Cohen from shopping for shares and warned him that he may have issues on the matter. Birnbaum mentioned he had revealed the knowledge whereas inebriated.
https://en.globes.co.il/en/article-former-sodastream-ceo-admits-insider-trading-1001460804
PRESS RELEASE
Seedo Corp (OTC: SEDO) has appointed the CEO of PepsiCo, Inc. (NASDAQ: PEP) SodaStream subsidiary Daniel Birnbaum to its board of administrators following his private funding of $550,000 within the firm.
About Seedo
Seedo offers a completely automated rising machine for indoor cultivation of hemp and greens that can be utilized by each common shoppers and large-scale producers.
The system makes it potential to generate excessive yields of laboratory merchandise with out pesticides, whereas additionally lowering cultivation prices by offering most daylight, built-in carbon filters, automated air-con and an clever post-harvest drying system .
Why is it essential?
Birnbaum's appointment to the corporate's board can be helpful given his experience in turning SodaStream right into a multibillion-dollar enterprise.
SodaStream final 12 months was acquired by PepsiCo for $3.2 billion. Previous to becoming a member of SodaStream, Birnbaum was the CEO of Nike Israel and a founding member of expertise startup Nuvisio Company. As well as, he based Pillsbury Israel and served as its CEO.
As an investor and board member of Seedo, Birnbaum will play a pivotal function in taking the corporate to the subsequent stage and reworking it into a world model.
“I’m enthusiastic about Seedo not solely due to the medicinal and dietary prospects behind rising high-quality hemp, however much more due to the probabilities that Seedo is growing to assist improve agricultural productiveness across the globe,” Birnbaum he was quoted in an announcement.
What’s Subsequent
Birnbaum's appointment comes after Seedo introduced a partnership with SYS Applied sciences, an progressive indoor and moveable clear setting firm, to develop superior containerized clear develop options for business use. As well as, Seedo lately started delivering the primary pre-sold dwelling cultivation items to clients in California.
