Ainsworth comments on historical investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology has spoken out about the ongoing investigations by the Austrian Economic and Corruption Prosecutor’s Office (WKStA) that started in 2019. The investigation focuses on over 100 individuals, including CEO Harald Neumann and the controlling shareholder Novomatic AG. Ainsworth first became aware of these investigations in August 2019, shortly after Austrian press reports.
The company has maintained communication with regulatory bodies throughout the investigation process. Despite being under scrutiny, the Ainsworth Board found no substantial evidence to warrant a public announcement regarding the investigations.
Key Points
- Ainsworth acknowledges its awareness of WKStA investigations regarding CEO Harald Neumann and Novomatic AG since 2019.
- The investigations involved over 100 individuals, leading to periodic updates to relevant gaming regulators.
- The Ainsworth Board determined that no market announcement was required, based on insufficient evidence supporting the allegations.
- CEO Neumann was determined suitable for his position after a probity investigation, despite the ongoing inquiries.
- All but one investigation against Neumann and Novomatic AG have been discontinued without findings of wrongdoing.
Why should I read this?
This article dives into a significant issue affecting Ainsworth’s leadership and regulatory compliance protocols. If you’re interested in the gaming industry and how it handles controversies, this is a must-read. It highlights the importance of transparency and the regulatory framework that shapes corporate governance.