Casino Group Faces Trial: Allegations of Corruption and Price Manipulation

The French supermarket group Casino and its former CEO, Jean-Charles Naouri, face trial over accusations of price manipulation and corruption. Prosecutors claim Naouri paid for favorable media coverage to support the share price and spread rumors of a takeover by Carrefour. Naouri and others deny the charges.


Devdiscourse News Desk | Paris | Updated: 01-10-2025 15:51 IST | Created: 01-10-2025 15:51 IST
Casino Group Faces Trial: Allegations of Corruption and Price Manipulation
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The French supermarket giant Casino Group, along with its former Chief Executive Officer Jean-Charles Naouri, is on trial in Paris, charged with price manipulation and corruption.

Prosecutors allege that Naouri paid a publisher to disseminate positive information about Casino, aiming to artificially boost its floundering share prices in 2018. The company faced severe financial difficulties due to mounting debt during that period.

Furthermore, accusations include attempts to incite speculation within business media of a possible hostile takeover by competitor Carrefour, an assertion Naouri has denied. In addition to Naouri, several former executives and a publisher are on trial.

(With inputs from agencies.)

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