German regulator to investigate Premiere
The German stock market regulator BaFin will investigate recent developments at the pay-TV operator Premiere. A spokesperson for the Financial Market Authority told the industry newsletter Medienbote: We will at first initiate a routine analysis in this case to find out whether there are signs of breaches of the capital market rules. She added that it could not yet be said whether this would lead to a formal investigation.
Premiere had previously acknowledged that it had misrepresented the number of actual subscribers. Following a correction, nearly one million customers have been removed from the total. Shareholders that feel they have been deceived are now considering legal action.